My instinct is to prosecute. My wife didn’t force me to write that, but she would agree. I tend to look for what’s wrong with others’ approaches. In my defense, I read and research a lot, so my intent is to be a scientist. But in the heat of the moment, instinct can be overwhelming.
So, what do I mean by Preacher, Prosecutor, Politician, and Scientist?
In Adam Grant’s book Think Again: The Power of Knowing What You Don’t Know, he provides a framework to examine how we think: Preacher, Prosecutor, Politician, and Scientist. He wrote, “In each of these modes, we take on a particular identity and use a distinct set of tools.”
THE PREACHER
In the Preacher mindset, you’re not just sharing your beliefs. You’re defending them as absolute truths.
A common example is real estate investors who believe property is a guaranteed path to wealth. I often hear, “Real estate is a hard asset” or “God isn’t making any more land.” These statements may have some truth, but they ignore leverage risk, property taxes, insurance, maintenance costs, and local market conditions.
I’m not against real estate investments. But if you find yourself preaching a belief about money, take a step back and ask: “Am I defending my beliefs, or evaluating all the data available?”
THE PROSECUTOR
The Prosecutor mindset focuses on winning arguments instead of improving outcomes.
A common example is the investor who refuses to work with a financial advisor because they believe they can do just as well without paying a fee. Yet Vanguard published a study concluding that financial advisors can potentially add up to, or even exceed, 3% in annual net returns.
How? They identified seven key areas where advisors add value, with behavioral coaching as the most significant. Simply put, not trying to time the market or panic-selling in volatile times makes a major difference.
Life isn’t a zero-sum game. Instead of trying to “win,” ask: “What can I learn here?” In this case, a better question might be, “How could a financial advisor improve my situation?”
THE POLITICIAN
Grant wrote, “We shift into politician mode when seeking to win over an audience: we campaign and lobby for the approval of our constituents.”
A common example is the rise of cryptocurrency. At a dinner party, someone brags about how much they’ve made in crypto. The one friend who hasn’t invested feels a wave of fear of missing out (FOMO) and says, “I should buy cryptocurrency, right?”
I’m not here to argue against crypto. But everyone’s financial situation is different, and let’s be honest, people exaggerate at dinner parties.
Rather than trying to impress the crowd, ask yourself: “Am I buying this investment to grow my wealth or to gain approval?”
THE SCIENTIST
This mindset should capture most of our time.
The most successful clients I’ve worked with throughout the years have one thing in common: they think like Scientists. They are curious, humble, and open to new information. Their goal is to seek the truth, even if it means changing their minds.
I once met with a young couple expecting their first child. They both worked full-time, had a modest net worth, and were in the early stages of building wealth. They brought all their financial statements, told me their goals, and admitted, “We’re not sure what we’re doing, but we want to learn.”
They didn’t fall into Preacher, Prosecutor, or Politician mode. They were grounded in the Scientist mindset. As a result, their future is bright.
CONCLUSION
Let me close with a recap from Grant: “In preacher mode, changing our minds is a mark of moral weakness; in scientist mode, it’s a sign of intellectual integrity. In prosecutor mode, allowing ourselves to be persuaded is admitting defeat; in scientist mode, it’s a step toward the truth. In politician mode, we flip-flop in response to carrots and sticks; in scientist mode, we shift in the face of sharper logic and stronger data.”
It’s hard. I still catch myself slipping into Prosecutor mode. But when it comes to money—and life—the more we can think like a Scientist, the better our outcomes will be.
Joe Olive is a 10year Air Force veteran who currently works as a Financial Advisor for the Sather Financial Group, a fee-only strategic planning and investment management firm. He holds a master’s degree from Columbia University.
