Do you remember the 1983 movie Trading Places, starring Dan Aykroyd and Eddie Murphy, which has been hailed as one of the best finance movies ever? I love Trading Places for financial concepts like brokerage firms to the forefront. But, I suspect that even after watching a movie like this, it's still hard for you to understand how a brokerage firm can benefit you by offering a place for your money to grow without working extra hours.
In short, you can invest in the stock market and other securities through a brokerage account. Many people only invest in the stock market through their employer's retirement program, but you may be missing out by not having a separate brokerage account. Studies suggest that the inequality gap and racial wealth gap is partly based on some people taking advantage of investing in the stock market while others have not. As such, it is important that everyone understand the power of the brokerage account.
The engaging video breaks down the entire world of brokerage accounts by focusing on three main points:
1. Strategies to overcome the fear that prevents people from opening up a brokerage account.
2. The top places to find a good brokerage account.
3. The amount of money you should put in a brokerage account.
And, if these reasons are not enough, you will get a kick out of the clips from some of Eddie Murphy's finest moments on film as it relates to money.
Check it out the informative and entertaining video on how to make your money grow: