I was born in 1980 and I have not seen the original Wall Street Movie. However, I can say that I enjoyed the modern day sequel Wall Street 2: Money Never Sleeps. This movie stars Michael Douglas (who I heard was also in the original Wall Street movie) as well as Shia Labeouf.
I have to admit that this is really not my type of movie; I am more into thrillers and police/organized crime dramas. However, I did enjoy this move. Besides the fact that Shia Labeouf looks amazing in a suit, and Michael Douglas is an amazing actor, there were many money lessons to be learned from the movie Wall Street 2: Money Never Sleeps.
After seeing the movie Wall Street 2: Money Never Sleeps the connection between corporate finance and personal finance is clearer than ever. I am not sure if this is due to a great Hollywood director, or a really good story line; but the fact is that we can learn many money lessons about personal finance from corporate finance. Honestly, at the end of the day we all want the same thing…to make money.
Here are some Money Lessons Learned about Personal Finance from Wall Street 2: Money Never Sleeps:
Don’t put all of your eggs in one basket. Within the first 15 minutes of the movie the market crashes, someone looses a million dollars on one investment, and the owner of a corporation commits suicide because he doesn’t want to declare bankruptcy. The lesson learned from this is to diversify our investment portfolio.
Do your own research on investments. We should have a financial planner who manages our investment portfolio and who makes suggestions/recommendations for our portfolio. However, we should never trust anyone 100%. We should always do our own research before signing on the dotted line.
Ask for Help when You Need it. I think that this rule applies for everything in life, not only personal finance.
Greed is never good. Get out before it’s too late.
Learn from Our Parents Mistakes. Many of our money habits may have been learned from watching our parents. Hopefully we learned from their mistakes and inherited their good habits.
You have to work hard. Nothing in life is free. If we want to have a huge pay check, we have to put in the effort. Hard work is the key to success. It can’t be more plain and simple than that.
Speculation is an Assumption. It makes an ass out of you (and me). We shouldn’t speculate, guess, or assume when it comes to our personal finances. We need to be educated and aware of what we own in our investment portfolio and what changes we need to make.
The number one money lesson learned from the movie Wall Street 2 is that Money Never Sleeps. Even when the markets are closed and our banks are not open, our money is always moving. It is always awake and we always need to be watching it.
Photo By Epicharmus