You may hear news commentators say, “The action on Wall Street today was strong, blah, blah, blah.”
What do they mean by Wall Street?
Wall Street refers to the financial and investment community. In fact, there was a movie way back in the 1980s called Wall Street, and it was about the stock market (side note: if you ever watch this movie, there is a scene with a cell phone literally the size of a shoebox). Wall Street is synonymous with investing.
But why is it called Wall Street?
Simple: there is a financial district in New York and there is actually a street in the southern part of Manhattan called “Wall Street.” If you’re ever in New York, you should check it out. Guess what’s on this street? The New York Stock Exchange. This is the heart of investing, where most people used to buy and sell stocks. So now, anything related to investing or finances is called Wall Street.
The proceeding blog post is an excerpt from Get Money Smart: Simple Lessons to Kickstart Your Financial Confidence & Grow Your Wealth, available now on Amazon.
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Robert Pagliarini, PhD, CFP® has helped clients across the United States manage, grow, and preserve their wealth for nearly three decades. His goal is to provide comprehensive financial, investment, and tax advice in a way that is honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a fiduciary. In his spare time, he writes personal finance books. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.
