These were local branches of banks, not headquarters banks as one would find in New York.

The audiences were enthusiastic.

However, after seeing these older employees’ portfolios, fewer than 10% had savings in excess of $50,000. And, only 1% had savings in excess of $100,000.

In other words, even though the audiences were willing to invest, there was not sufficient liquidity in their personal accounts to make it worth their while.

One does not recommend speculating, bank manager or not, when his entire savings of a lifetime is $50,000 or less., and he will be retiring within one to two years.

While the top 5% of families in the US own 40% of all assets, and the same 5% own 95% of all stocks traded on Wall Street, middle America has been generally left behind in terms of the financial rewards touted by the free market system.

Families who had substantial fortunes have had these fortunes for several generations most of their offspring starting life with million dollar trusts.

In such cases, their funds are almost always managed by large asset management houses in New York, San Francisco and Los Angeles.
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