Five Ways to Harness Your Financial Firepower in the Year of the Dragon

Kiplinger, February 10, 2024 — “As the Year of the Dragon kicks off, consider looking to the dragon’s strong passionate and creative attributes to help guide your financial year,” writes Marguerita Cheng, CFP® Pro, explaining:

The Chinese people celebrate their new year on unique dates. 2024 is the Year of the Dragon, and the animal holds a special place in Chinese culture. The wood dragon is the fifth animal in the 12 Chinese zodiac signs, and the rabbit is its precedent. The dragon is also mythically associated with high birth rates, unlike the other 11 animals.

The dragon is known for leadership qualities such as power, charisma, authority, passion and creativity. Did you know that these traits hold profound implications for your personal finance journey in 2024? Historically, stocks have averaged a real return of 7.7% during the dragon years, according to The Economist and Business Insider. The years 1941, 1952, 1965 and 1989 were very strong for the stock market, according to Forbes.

Dragons are full of vitality and energy and are visionary and goal-oriented. They have a high sense of identity among all the animals in Chinese astrology. The dragon presents itself with tons of confidence, idealism and benevolence.

Each new year is also associated with one of five elements — earth, wood, fire, metal and water. This year is the Year of the Wood Dragon, which offers abundance and longevity. Many people will buy homes, start families and have children.

People born in the Year of the Dragon are idealistic and independent thinkers who always want their community to benefit. They are selfless and yearn for support and love. Dragons are powerful animals, and you can use their traits to meet your financial goals.

Here are five ways you can use the dragon’s traits to achieve financial stability in 2024.