This study examines the role of Grit, a concept introduced by Angela Duckworth and defined as perseverance and passion for long-term goals, in predicting financial success during young adulthood. Relying on data from the National Longitudinal Survey of Youth 1997 (NLSY97), we investigate the relationship between individuals’ Grit scores and financial outcomes at age 30, including net worth, debt, assets, and income. Survey-weighted OLS regressions reveal that higher Grit is significantly associated with greater net worth and asset accumulation at 30, with a one-unit increase in Grit predicting an estimated $25,800 increase in net worth and $430 in additional assets. Grit was not a significant predictor of debt, though it was marginally related to higher income, suggesting that Grit contributes to positive financial behaviors such as saving, investing, and long-term planning, complementing traditional factors like education and financial literacy. While results highlight Grit’s potential as a psychological determinant of financial well-being, limitations include measurement concerns with the Short Grit Scale and reliance on self-reported data. The study builds on other non-cognitive, personality trait research in wealth-building and calls for further research to explore interventions that cultivate perseverance and persistence as pathways to financial stability.

Accepted Oral Presentation