Personal Risk Tolerance

[mkitzmann]

To determine, when to show a user certain Health check alert (#57) we would have to know the users personal risk tolerance.
This could be part of the onboarding process and also adjusted later on.

The risk tolerance could be determined by:

• General need for safety
• Upcoming large purchases ("Are you planing on buying a house or car?", house/car/currency-input/no)
• Knowledge about the financial market ("Do you have prior experience in the financial market?", none/1 year/5 years/10 years)
• Need for retirement funds ("When do you intent to retire?", year input)
• Debt ("Do you have any loans or debt?", currency input/no)
• Income
• net worth (could be determined by the assets in the application)
• family support ("Do you have a wife or children?" wife/children/no)

Skipping any of these questions or the whole process would be possible, but might lead to no risk tolerance being saved.
The result of these questions would be saved and a personal risk tolerance score (0-100) would be calculated.With a higher score alerts would be triggered later or not at all.
For example: A user with a very high risk score of 80 would not be warned when his portfolio only consists of stocks.

There would also be a disclaimer, that all information provided will be saved encrypted client side and not accessible by anyone but the user.