Financially successful adults had these traits as commonly as children, according to a 50-year study

The qualities that make adults financially successful start in childhood, according to the latest findings from a study started 52 years ago.

Psychologists in New Zealand have tracked 1,000 children from the city of Dunedin since 1972 to discover the childhood factors with the greatest influence on how they develop into adults.

The best predictors of success in adulthood had little to do with academics, networking, or work ethic. Rather, the researchers found that participants who grew up to be more successful adults were more self-possessed than their peers growing up, showing high levels of discipline and emotional intelligence as children.

Researchers refer to this measure as their “emotional quotient” (EQ). Those with a high EQ tend to show more empathy, have a more positive outlook on life, make more informed decisions, and are more comfortable admitting they are wrong.

However, children with a low EQ were more likely to see “adverse wealth outcomes” as adults. By their 30s, these adults were more likely to be low-income earners, demonstrate poor financial habits and depend on welfare, and less likely to have money in savings, have a home, make investments or plan for retirement.

Assessments of the participants’ EQ were obtained at regular intervals throughout childhood, at ages three, five, seven, nine, and 11, by observing the children’s behavior, interviewing their parents, and conducting surveys with their teachers.

They found a strong link between a child’s ability to regularly interpret and control their emotions and their level of professional success as adults.

“All children lack self-control at times, but this composite measure ensured that low scorers had shown poor self-control in a variety of situations and over the years,” researchers at the University of Otago reported in American Scientist.

The researchers noted that high EQ can be an important factor in the workplace, indicating how well employees cooperate and communicate with their colleagues at work.

Children can develop a higher EQ with the help of the most influential adults in their lives—encouraging communication, valuing their emotions, and talking about their problems, openly and honestly.