Principle 136 from The Most Important Lessons in Economics and Finance book: “The history of money explains almost everything in history” (Criniti, 2014, p. 168).
Life-changing book reveals some of the most important conclusions in science
Dr. Anthony M. Criniti IV extracts significant findings from newly discovered connections between biology, economics, finance, and survivalism in “The Survival of the Richest”
PHILADELPHIA – In “The Necessity of Finance,” Dr. Anthony M. Criniti IV taught that learning the science of finance is necessary for individuals, groups, and organizations to survive. Survival’s role was clearly mentioned there, but a major question was left unanswered: What is more important than learning how to survive? Over the years, he realized that if he truly wanted to better understand the necessity of economics and finance, then first he must thoroughly understand the necessity of survivalism. With unprecedented determination, Dr. Criniti sets out in “The Survival of the Richest” (ISBN 098845954X) to argue that wealth has always been the true link between survival and prosperity.
Dr. Criniti began his quest to find the answer to a simple question, but was forced to detour through various related subjects, such as biology, genocide, and the martial sciences. His difficult journey led him to confront some of life’s most important questions. What is life and death? What role does the struggle play in survival? Why survive? Some serious questions about the human race also needed to be addressed. What are we capable of? Who are we?
Readers will be engaged in the most comprehensive overview of the science of survival and will find explanations for this book’s disturbing scientific conclusions. Some examples of these conclusions include, but are not limited to, that the goals of economics and finance are interrelated with the survival goals of economic and financial entities; that finance is the precursor to economics; that being wealthier increases your probability of continuously surviving and prospering by providing you the greatest options to obtaining survival essentials; that wealthier entities have the option to help other economic or financial entities (including nonhuman ones) survive and prosper, particularly through the concepts of the survival and the prosperity by a third party; that the management of money, and the technology that it can buy, is an advanced, necessary stage in the process of evolution—that is, the evolution of evolution; that the survival of the richest is a more accurate concept than the survival of the fittest; and that all humanity should have the united goal of maximizing our wealth for our survival on this planet and beyond.
“It is important to remember though that just like individuals, groups, and nations, in general, if the inhabitants of a wealthy planet like Earth decide not to continue to maximize wealth, then they automatically, by default, choose to increase Earth’s chances of moving in the direction of the edge of survival, and ultimately, closer to death,” says Dr. Criniti. “As demonstrated earlier, more wealth provides more options for the wealthiest entities to survive better; it does not necessarily mean that those entities will choose the best options. If life on our planet is to continue to prosper, then we must exercise our options for better survival and do it together!”
“The Survival of the Richest” is available for sale online at Amazon.com and other channels.
About the Author:
Dr. Anthony M. Criniti IV is a former financial consultant and a current professor of finance at several universities. He earned a PhD in applied management and decision sciences with a concentration in finance. He also holds several prominent designations from The American College. A native of Philadelphia, Dr. Criniti is an active investor, an explorer, a financialist, a survivalist, and has traveled the world studying various aspects of finance. He is also the author of two acclaimed finance books: The Necessity of Finance and The Most Important Lessons in Economics and Finance. Finally, Dr. Criniti has just released his new book, The Survival of the Richest.
Dr. Anthony M. Criniti IV
REVIEW COPIES AND INTERVIEWS MAY BE AVAILABLE UPON REQUEST
A “financialist” versus an “economist”
According to Dr. Anthony Criniti, a “financialist” and an “economist” are two distinct terms. His definitions are below for your convenience:
“A financialist is a scientist who specializes in the science of finance.” (Criniti, The Necessity of Finance, 25)
“The science of economics has a name for its specialists called economists.” (Criniti, The Necessity of Finance, 25)
For more information, please read Dr. Criniti’s The Necessity of Finance.
Criniti, Anthony M. IV, The Necessity of Finance: An Overview of the Science of Management of Wealth for an Individual, a Group, or an Organization (Philadelphia: Criniti Publishing, 2013).
American Psychological Association Survey Shows Money Stress Weighing on Americans’ Health Nationwide
Stress in America™ survey finds parents, younger generations and lower-income households have higher stress than others overall
WASHINGTON, February 4, 2015, While aspects of the U.S. economy have improved, money continues to be a top cause of stress for Americans, according to the new Stress in America™: Paying With Our Health survey released today by the American Psychological Association. According to the survey, parents, younger generations and those living in lower-income households report higher levels of stress than Americans overall, especially when it comes to stress about money.
“Regardless of the economic climate, money and finances have remained the top stressor since our survey began in 2007. Furthermore, this year’s survey shows that stress related to financial issues could have a significant impact on Americans’ health and well-being,” APA CEO and Executive Vice President Norman B. Anderson, PhD, said.
The survey, which was conducted by Harris Poll on behalf of APA among 3,068 adults in August 2014, found that 72 percent of Americans reported feeling stressed about money at least some of the time during the past month. Twenty-two percent said that they experienced extreme stress about money during the past month (an 8, 9 or 10 on a 10-point scale, where 1 is “little or no stress” and 10 is “a great deal of stress”). For the majority of Americans (64 percent), money is a somewhat or very significant source of stress, but especially for parents and younger adults (77 percent of parents, 75 percent of millennials [18 to 35 years old] and 76 percent of Gen Xers [36 to 49 years old]).
A gap also appears to be emerging in stress levels between people living in lower-income (making less than $50,000 per year) and higher-income households that mirrors the growing wealth gap nationwide. In 2007, there was no difference in reported average stress levels between those who earned more and those who earned less than $50,000, with both groups reporting the same average levels of stress (6.2 on a 10-point scale). By 2014, a clear gap had emerged with those living in lower-income households reporting higher overall stress levels than those living in higher-income households (5.2 vs. 4.7 on the 10-point scale).
Stress about money and finances appears to have a significant impact on many Americans’ lives. Some are putting their health care needs on hold because of financial concerns. Nearly 1 in 5 Americans say that they have either considered skipping (9 percent) or skipped (12 percent) going to the doctor when they needed health care because of financial concerns. Stress about money also impacts relationships: Almost a third of adults with partners (31 percent) report that money is a major source of conflict in their relationship.
The report also uncovered good news about stress management. Americans who say they have someone they can ask for emotional support, such as family and friends, report lower stress levels and better related outcomes than those without emotional support. Unfortunately, some Americans say that they do not have anyone to rely on for emotional support. According to the survey, 43 percent of those who say they have no emotional support report that their overall stress has increased in the past year, compared with 26 percent of those who say they have emotional support.
On average, Americans’ stress levels are trending downward: The average reported stress level is 4.9 on a 10-point scale, down from 6.2 in 2007. Regardless of lower stress levels, it appears that Americans are living with stress levels higher than what we believe to be healthy — 3.7 on a 10-point scale — and some (22 percent) say they are not doing enough to manage their stress.
“This year’s survey continues to reinforce the idea that we are living with a level of stress that we consider too high,” Anderson said. “Despite the good news that overall stress levels are down, it appears that the idea of living with stress higher than what we believe to be healthy and dealing with it in ineffective ways continues to be embedded in our culture. All Americans, and particularly those groups that are most affected by stress — which include women, younger adults and those with lower incomes — need to address this issue sooner than later in order to better their health and well-being.”
To read the full Stress in America report or download graphics, visit the webpage.
For additional information on stress, lifestyle and behaviors, visit the APA Help Center webpage and read APA’s Mind/Body Health campaign blog. Join the conversation about stress on Twitter by following @APAHelpCenter and #stressAPA.
The Stress in America survey was conducted online within the United States by Harris Poll on behalf of the American Psychological Association between Aug. 4 and 29, 2014, among 3,068 adults ages 18 and older who reside in the U.S. Because the sample is based on those who were invited and agreed to participate in the Harris Poll online research panel, no estimates of theoretical sampling error can be calculated. To read the full methodology, including the weighting variables, visit the Stress in America Press Room webpage.
The American Psychological Association, in Washington, D.C., is the largest scientific and professional organization representing psychology in the United States. APA’s membership includes nearly 130,000 researchers, educators, clinicians, consultants and students. Through its divisions in 54 subfields of psychology and affiliations with 60 state, territorial and Canadian provincial associations, APA works to advance the creation, communication and application of psychological knowledge to benefit society and improve people’s lives.
J.P. Morgan’s 5 Resolutions for Your Retirement Plan
NEW YORK, Jan. 2, 2015, The beginning of the new year is a great time to check in on your retirement savings plan, according to J.P. Morgan Asset Management Chief Retirement Strategist Katherine Roy. The firm has shared 5 tips for individuals to consider heading into 2015.
- Know where you stand
“Whether you’re nearing retirement or still several decades away, it’s important to know where you stand now,” says Katherine. Find out if you’re on track with J.P. Morgan’s Guide to Retirement savings checkpoint: http://bit.ly/jpm_gtr_check
- 15 is the new 10
The single most important thing you can do is to target saving at least 15% of your gross annual income (before taxes) each and every year. Katherine offers these tips to help avoid “undersaving” and maximize your savings potential:
- Pay yourself first with automatic deductions from each paycheck, so you are benefitting from dollar cost averaging throughout the year.
- Max out on employer retirement plans – such as 401(k), 403(b) and 457 plans. The 15% target includes your employer match.
- If you aren’t covered by an employer plan, be sure to make your IRA contribution. If you are, consider a non-tax-deductible contribution to shelter more long-term income for income tax purposes.
- Don’t forget to take advantage of catch-up contributions if you’re age 50 or over.
- Get a better grasp of your spending behavior. The less you spend, the more you can save and invest.
Take a look at the chart to better understand the benefit of saving early from J.P. Morgan’s Guide to Retirement: http://bit.ly/jpm_gtr_saveearly
- How you invest matters
How you invest will have a large impact on how much you have at retirement. No matter how much you save, investing in a portfolio that is too conservative is likely to lead to a poor outcome. “You can’t count on unrealistic investment returns to make up for saving too little,” says Katherine. “Maintaining a disciplined, balanced saving and investment strategy is critical.” And, now is a good time to take stock of how your retirement portfolio is allocated. http://bit.ly/jpm_gtr_returns
- Prepare to pay more for health care in retirement
The estimated annual out-of-pocket health care costs for the average 65-year-old retiree is currently about $4,000 a year and, in 20 years, is projected to grow to more than $10,000. For someone with high prescription expenses, those costs are around $7,000 per year, projected to grow to more than $14,000 in 30 years. http://bit.ly/jpm_gtr_hccosts
Katherine advises, “ensure your retirement portfolio is positioned for this growing expense. With health care costs rising faster than inflation, we recommend planning for 7% to account for both health care inflation as well as higher spending on health care costs as you age.”
- Consider delaying Social Security
As you can see in the chart, for every year you delay taking Social Security beyond your full retirement age (age 66 for those born 1943-1954; age 67 for those born in 1960 or after), you can expect an 8% per year increase in benefits up until age 70. If you can’t wait until age 70, at least hold off until your full retirement age. “If you start taking benefits earlier than full retirement age, you’ll not only lock in reduced benefits for your lifetime, but benefits to your survivors could also be significantly reduced,” says Katherine. http://bit.ly/jpm_gtr_delay
A well-informed plan can help take some of the emotion out of saving and investing. Work with a financial advisor who can help you develop a plan and course correct along the way. Katherine recommends, “Meet with your financial advisor at least annually to ensure your retirement plan stays on track.”
About J.P. Morgan Asset Management – Retirement
J.P. Morgan Retirement, part of J.P. Morgan Asset Management, is a leading provider of comprehensive retirement solutions and is dedicated to improving individual retirement outcomes. The group has defined contribution assets under management of nearly $135 billion, as of September 30, 2014.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.6 trillion, is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.4 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com
J.P. Morgan Asset Management http://www.jpmorganchase.com