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Archive for the ‘Wealth’ Category

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.

MEDIA CONTACT:

Dr. Anthony M. Criniti IV

E-mail:             info@learn-about-finance.com

Web:                https://learn-about-finance.com/

REVIEW COPIES AND INTERVIEWS MAY BE AVAILABLE UPON REQUEST

 

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Americans’ Personal Finance Sentiment Strengthens, Housing Optimism Follows Suit

Confidence in Home Selling Environment Hits New Survey High

WASHINGTON, Nov. 7, 2014, Results from Fannie Mae’s October 2014 National Housing Survey show Americans’ optimism about the housing market continued its gradual climb amid greater confidence in household income and personal finances. The share of respondents who say they expect their personal financial situation to improve during the next 12 months climbed to 45 percent – seven points higher compared to one year ago – while the share expecting their financial situation to worsen decreased to 10 percent last month. Although consumer attitudes about the direction of the economy remain subdued, with only 40 percent of survey respondents saying the economy is on the right track, the October results mark a 13 percentage point improvement compared to the same time last year.

“Consumers are growing more optimistic about the housing market in the face of broader improvement in economic sentiment,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The share of consumers who expect their personal finances to get better is near its highest level since the survey’s inception, while those expecting their finances to get worse reached a survey low. Home price expectations rose significantly this month, largely reversing the dip witnessed over the past four months, and the share of consumers who think it’s a good time to sell a home reached another survey high. The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand. These results may help drive a healthier housing market in 2015.”

SURVEY HIGHLIGHTS

Homeownership and Renting

  • The average 12-month home price change expectation rose to 2.8 percent.
  • The share of respondents who say home prices will go up in the next 12 months fell by one point to 44 percent. The share who say home prices will go down decreased by one point to 7 percent.
  • The share of respondents who say mortgage rates will go up in the next 12 months rose by three percentage points to 48 percent.
  • Those who say it is a good time to buy a house fell to 65 percent. Those who say it is a good time to sell increased to 44 percent—a new all-time survey high.
  • The average 12-month rental price change expectation rose to 3.7 percent.
  • The percentage of respondents who expect home rental prices to go up in the next 12 months decreased by six percentage points to 49 percent.
  • The share of respondents who think it would be difficult to get a home mortgage today increased by two percentage points.
  • The share who say they would buy if they were going to move fell to 65 percent, while the share who would rent increased to 30 percent.

The Economy and Household Finances

  • The share of respondents who say the economy is on the right track held steady at 40 percent.
  • The percentage of respondents who expect their personal financial situation to get better over the next 12 months increased to 45 percent.
  • The share of respondents who say their household income is significantly higher than it was 12 months ago remained at 25 percent.
  • The share of respondents who say their household expenses are significantly higher than they were 12 months ago fell slightly to 36 percent.

The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the October 2014 survey, as well as a podcast providing an audio synopsis of the survey results and technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The October 2014 Fannie Mae National Housing Survey was conducted between October 1, 2014 and October 25, 2014. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

Fannie Mae enables people to buy, refinance, or rent a home.

Visit us at http://www.fanniemae.com/progress.

Follow us on Twitter: http://twitter.com/FannieMae.

SOURCE:

Fannie Mae http://www.fanniemae.com

 

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Experienced financial professional shares reader-friendly guide to economics, finance

 In “The Most Important Lessons in Economics and Finance,” Dr. Anthony M. Criniti IV uncovers the time-tested secrets of wealth management

PHILADELPHIA – In “The Necessity of Finance” he laid a foundation, introducing readers to the characteristics of the economic and financial worlds. Now, after multiple requests, Dr. Anthony M. Criniti IV is back with a follow-up book, “The Most Important Lessons in Economics and Finance” (ISBN 0988459523), uncovering the most significant truths of these two important sciences.

Dr. Criniti knows that reading these principles alone is not enough to master them; after many years of experience in the financial field, he knows that you must incorporate the lessons into your life while making the decision to take control of your own wealth—a process that can take a long time. But this helpful guide provides the best place to start, particularly for advanced level students and professionals who have already read “The Necessity of Finance.”

Through incorporating and summarizing the teachings of some of history’s top contributors to these two sciences, Dr. Criniti draws upon a wealth of experience to pass these lessons on to the next generation of practitioners in the worlds of economics and finance.

“I give these lessons to you from the bottom of my heart, with the best intentions, to reveal the secrets of two of the most important sciences….Mastery may take decades, but choosing not to try to master your own wealth can result in harsh consequences, as noted in my previous work,” says author Dr. Criniti.

The Most Important Lessons in Economics and Finance” 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. A native of Philadelphia, he has also received many financially related designations, including CHFC, CLU, REBC, and RHU. Dr. Criniti is an active investor and has traveled the world studying various aspects of finance. He is also the author of the acclaimed finance book, The Necessity of Finance. Finally, Dr. Criniti has just released his new book, The Most Important Lessons in Economics and Finance.

MEDIA CONTACT:

Dr. Anthony M. Criniti IV

E-mail               info@learn-about-finance.com

Web:                https://learn-about-finance.com/

REVIEW COPIES AND INTERVIEWS MAY BE AVAILABLE UPON REQUEST

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No Silver Spoon: Most Millionaires Credit Hard Work And Smart Saving As Keys To Financial Success

– Few Gain Wealth Through Inheritance Or Spouse, PNC Survey Finds –

PHILADELPHIA, Jan. 21, 2014, Most American millionaires cite smart saving over investment choices as the key ingredient to their financial success and very few have benefited from inheritance or a rich spouse, according to the PNC Wealth and Values Survey.

Saving early and regularly is named most often (56 percent) as the personal decision that most influenced their financial success, according to the survey by PNC Wealth Management, a member of The PNC Financial Services Group, Inc. (NYSE: PNC). Controlling spending (38 percent) and making good investment decisions (38 percent) were next, while “earning a lot of money” is fourth on the list, mentioned by 26 percent. Even fewer cite an inheritance (12 percent) or marrying someone with money (3 percent) as significant.

Asked to rank the greatest influences, two-thirds (65 percent) said “hard work” followed by good decisions (16 percent), discipline (8 percent) and luck (7 percent).

“For individuals who aspire to be millionaires, the survey results are positive.  The most likely path to building wealth is not through inheritance, marriage or luck,” said Joseph Jennings, director of investments for PNC Wealth Management.  “Most of the millionaires surveyed have controlled their own destiny by working hard and saving early and regularly.  These are personal choices over which we all have control.  This indicates that the ‘American dream’ is still very much alive.”

Other Findings
The seeds of success were planted early for most American millionaires, but they have yielded an outcome that goes beyond what they expected. Three out of four (76 percent) expected as they were growing up that they would be successful financially but most (81 percent) express pleasant surprise at the scale of their success.

Slightly more than one third (36 percent) have accumulated at least $1 million within the last decade, with the same number (36 percent) having done so within the past 10-20 years.  Fewer than one in three (28 percent) have had at least this much money for more than 20 years.

Most millionaires (53 percent) say that whatever financial acumen they have is largely self-taught, but the vast majority (77 percent) now work with a financial professional to help manage their wealth. For most, the relationship is very much a collaboration; fewer either delegate most decisions to their advisors or rely solely on their own judgment.

American millionaires report that now they are more at peace and enjoying life more, whereas 10 years ago they were much more likely to be pushing to achieve more.

Most have been able to move beyond a concern about saving enough for retirement (a key priority now for just 8 percent) or paying down debt (a priority for just 2 percent). Now they are most concentrated on having enough money to live comfortably in retirement (the top concern for 57 percent).

Preservation of capital continues to be the main focus for this group, cited more than twice as often (51 percent) as accumulation (23 percent) as a major concern.

An online media kit containing survey highlights and background information are available on PNC’s website at http://www.pnc.com/pncpresskits.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.

Survey Methodology
The Wealth and Values Survey was commissioned by PNC to identify attitudes about wealth among high-net-worth individuals, how it affects their lives and their needs in managing wealth. Artemis Strategy Group conducted the online survey in September and October 2013, 923 interviews were completed nationally including 473 with assets of $1 million or more, including 169 with $% million or more. Sampling error for 473 respondents is +/- 4.1 percent at the 95 percent confidence level. DISCLAIMER: This report was prepared for general information purposes only and is not intended as specific advice or recommendations. Any reliance upon this information is solely and exclusively at your own risk.

The survey was designed and managed by HNW, Inc. (www.hnw.com), an integrated marketing and technology firm with a focus on financial services and understanding and connecting with the affluent. The survey was supported by Artemis Strategy Group (www.ArtemisSG.com), a communications strategy research firm specializing in brand positioning and policy issues.

This report has been prepared for general informational purposes only and is not intended as specific advice or recommendations. Information has been gathered from third party sources and has not been independently verified or accepted by The PNC Financial Services Group, Inc. PNC makes no representations or warranties as to the accuracy or completeness of the information, assumptions, analyses or conclusions presented in the report. PNC cannot be held responsible for any errors or misrepresentations contained in the report or in the information gathered from third party sources. Any reliance upon the information provided in the report is solely and exclusively at your own risk.

CONTACT:

Alan Aldinger
(412) 768-3711
alan.aldinger@pnc.com

SOURCE:

PNC Wealth Management

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Most Women Working Today Will Not See Equal Pay during their Working Lives

WASHINGTON, Sept. 18, 2013, 2012 earnings figures released by the U.S. Census Bureau yesterday do not hold much good news for women. Real earnings have failed to grow, and the gender wage gap is at the same level as it was in 2002.  Women’s median annual earnings for 50 or more weeks of full-time work in 2012 were $37,791, compared with $49,398 for men, a gender earnings ratio of 76.5 percent. Real earnings did not increase compared to 2011, and the typical woman earned $11,607 less in 2012 than the typical man.

“Progress in closing the gender wage gap has stalled during the most recent decade. The wage gap is still at the same level as it was in 2002,” said Dr. Heidi Hartmann, President of IWPR. “If the five-decade trend is projected forward, it will take almost another five decades—until 2058—for women to reach pay equity. The majority of today’s working women will be well past the ends of their working lives.”

A new fact sheet released today by the Institute for Women’s Policy Research, maps the gender earnings ratio since 1960 and analyzes changes in earnings during the last year by gender, race, and ethnicity. While there is a gender earnings gap between women and men of each major racial/ethnic group, the median earnings of all women are below those of white men. During 2012 the median annual earnings of Hispanic women were only $ 28,424, just 54 percent of the median annual earnings of white men, and at a level that would qualify a woman head of a family of four to receive food stamps.

“While there is no silver bullet for closing the gender wage gap,” said Ariane Hegewisch, a Study Director at the Institute for Women’s Policy Research and author of the fact sheet, “strengthened enforcement of our EEO laws, a higher minimum wage, and work/family benefits would go a significant way towards ensuring that working women are able to support their families without having to rely on welfare.”

The Institute for Women’s Policy Research (IWPR) is a 501(c)(3) tax-exempt organization that conducts rigorous research and disseminates its findings to address the needs of women and their families, promote public dialogue, and strengthen communities and societies.

SOURCE:

Institute for Women’s Policy Research
http://www.iwpr.org

 

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America’s Poor Working Hard But Still Falling Behind

New Oxfam America poll reveals harsh realities in the world’s most unequal rich country

WASHINGTON, Aug. 28, 2013, As the nation prepares to mark Labor Day, Oxfam America released the findings of a new poll commissioned to explore the realities of America’s working poor. The survey reveals that America’s low-wage workers have a fierce work ethic and believe that hard work can pay off.  However, they hold jobs that trap them in a cycle of working hard but unable to get ahead and with little hope for economic mobility.

The survey, which was conducted on Oxfam America’s behalf by Hart Research Associates, found that most low-wage workers barely scrape by month-to-month, are plagued by worries about meeting their families’ basic needs, and often turn to loans from family and friends, credit card debt, pawn shops and payday loans, and government programs just to get by. The poll also found that the workers facing the greatest challenges are also the most vulnerable, and that includes parents, women, and those making less than $10 per hour.

“For tens of millions of low-wage American workers, Labor Day is another long day on the job—doing hard work, often at irregular hours, for low pay and few benefits,” said Raymond C. Offenheiser, president of Oxfam America. “As our nation struggles to recover from the Great Recession, there is little recovery for a quarter of American workers who are stuck in low-wage jobs. Our country is now the most unequal rich country in the world, and has the largest percentage of low-wage workers of any advanced economy.”

Oxfam’s survey shows that in addition to inadequate incomes, low-wage workers also face challenges and obstacles that make it difficult to maintain basic job security and to find paths for advancement. Almost a third of those surveyed reported that they have no workplace benefits, such as paid sick leave, health insurance or paid vacation time. And one in six reported having lost a job in the last four years because they got sick or had to take care of a child or family member. A majority of the working poor surveyed believe that it is more common for middle-class people to fall out of the middle class than for low-income people to rise into the middle class.

“Poverty in the US looks very different from poverty in the developing countries where Oxfam often works,” said Offenheiser. “But what is the same – be it in the world’s richest country or its poorest– is the injustice of a society in which a few are mind-bogglingly rich, some are doing well, and too many are working hard but simply can’t make ends meet.”

A majority of low-wage workers reported that they believe that government has a responsibility to ensure that everyone has enough to eat, has access to health care and a roof over their head. But they also believe that government policy is slanted toward benefiting the rich rather than helping the poor get ahead.

“Despite their struggles, our survey finds that low-wage workers don’t want hand-outs; they want a level playing field. They want fair wages, decent working conditions, and dignity,” continued Offenheiser. “A majority of the working poor support a higher minimum wage, help in making child care more affordable, and expanding the earned income tax credit.”

Note: According to the Gini index, the most commonly used measure of inequality, the United States is the wealthiest nation with the largest difference between the poorest and richest.

Oxfam America is a global organization working to right the wrongs of poverty, hunger, and injustice.  We save lives, develop long-term solutions to poverty, and campaign for social change.  As one of 17 members of the international Oxfam confederation, we work with people in more than 90 countries to create lasting solutions. To join our efforts or learn more, go to www.oxfamamerica.org

 

SOURCE:

Oxfam America
http://www.oxfamamerica.org/

 

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California Hard Money Lenders — An Alternative Source of Financing

SAN FRANCISCO, Aug. 1, 2013, The real estate market is hot, very hot, and both investors and consumers are in need of financing to take advantage of the real estate market.  An increasing number of individuals and companies are turning to hard money lenders, such as All California Lending, for financing their California property acquisitions.  This is especially true when the property is in need of repair.  Purchasing properties in need of repair is becoming more common as the inventory available on the market continues to stay tight.  As hard money loan specialists, this company is able to assist in the financing of real estate even in cases where the banks have declined the buyer a loan due to needed rehab or repairs on the property.

The loans offered for properties in need of rehab are truly unique in today’s market.  While these loans are not long-term solutions, they do include funding for acquisition, rehab and even interest payments.  With new guidelines these loans can fund up to 65% or more of the estimated after repair value, commonly referred to as ARV.  With loan terms ranging from six months up to two years, the structure is flexible enough to accommodate not only light rehab projects but also construction completion and major rehab projects on residential, commercial and multi-unit property.

One area of particular interest is Los Angeles and surrounding areas.  Hard money lenders in Los Angeles often times are making loans based on the purchase price.  With the programs All California Lending offers, however, more aggressive lending is realistic.  For investors who are looking to leverage their existing cash, these aggressive loans based on an estimated sales price at completion allows for the additional leverage they need.

In addition to the Los Angeles market, All California Lending can help provide financing for rehab loans in most other markets of California.  From San Diego all the way North to Sacramento and the North Coast, as long as the property is located in California there is likely an alternative financing option available.

With the California real estate market so hot right now, hard money lending offers many benefits.  These benefits include faster closing times than conventional loans, flexible underwriting requirements, aggressive loan amounts and creative solutions that bank lending simply cannot compete with.  While the cost is more for these types of loans, they make sense for many investors in the market today.

Chris Goulart is a seasoned professional and only works with California hard money loans.  He specializes in structuring alternative financing for real estate investors and has years of experience.  He is fully licensed both at the state and at the national level through the Department of Real Estate and the Nationwide Mortgage Licensing System.

Acalending.com

Media Contact: Chris Goulart, All California Lending, 877 462 3422, cgoulart@acalending.com

SOURCE:

All California Lending
http://www.acalending.com

 

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