WHAT to name your child is one of the most important decisions you'll make as a parent.
But while most of us spend months agonising over the various different options, it turns out there are a select few names which may just help them become financially successful in the future.
Investment platform eToro has analysed its database of 12 million users to reveal which names have achieved the best and worst investment returns over the past 12 months.
While Andrew and Anna came out top overall, other high-earning names included Sam, Christopher, Maria and Laura.
That said, parents who want their children to grow up to be savvy with money should avoid Ali, Rob and Dan for boys and Karen, Claire and Lisa for girls.
While Oliver was the most popular choice for baby boys last year, parents expecting a little boy might want to consider something else.
Best names for Financial Success
TOP 2020 BOYS' NAMES FOR INVESTMENT RETURNS:
TOP 2020 GIRLS’ NAMES FOR INVESTMENT RETURNS:
According to the Office of National Statistics, the name appeared in the top 10 for investment returns in 2015 but has since failed to make an appearance.
But Olivia, which was the most common name for girls in the UK last year, is still worth considering as women with the name achieved the best returns in 2019.
Iqbal V. Gandham, managing director of eToro UK, said: "William Shakespeare once wrote ‘what’s in a name?’. Quite a lot, it seems, if you want your children to grow up to be financially savvy and secure.
“A name is not just something you use to distinguish yourself from others, it also affects the way others see you.
“There has been a raft of research done over the years showing a very strong link between what you call your child and their future success.
Worst names for Financial Success
WORST 2020 BOYS’ NAMES FOR INVESTMENT RETURNS:
WORST 2020 GIRLS' NAMES FOR INVESTMENT RETURNS:
“So, it could quite literally pay dividends so take your time when choosing.”
eToro’s data also reveals the most financially savvy names going back as far as 2012, with Matt and Graham appearing in multiple years.
Girls' names don’t fare quite so well, with Ali appearing among the least successful investors in two separate years.
The findings provide fresh evidence that what you call your children can have a big bearing on their futures.
In 2012, researchers from the University of Melbourne, the University of Leuven and New York University found that people with easy-to-pronounce names tend to hold more senior positions at work.
Separately, a 2008 study by Marquette University, in the US, found that those with more common names were more likely to be hired for a role than those whose names were more unique.
eToro’s Gandham added: “The data reveals a very definite link between certain types of names and success investing in the stock market.
“Other studies have shown that the way people react to you can vary depending on what your name is.
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“It could well be that people perceive those with certain names as being good with money and others not so good - just as research shows that people with certain names are more likeable or hireable.
“Therefore, if people constantly perceive you as being rational and calm – two key traits often found in good investors - then it may well affect your behaviour eventually.
“Of course, everybody is different, and it is dangerous to make sweeping generalisations, but it is worth giving some serious thought as to what you call your child. They may well thank you for it in the future.”
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