Finance
Social Security: Readers weigh in with questions
However, if someone is younger than full retirement age and still working while receiving Social Security benefits, it could push them above the yearly earnings limit and their monthly benefits would be temporarily reduced. This is not permanent.
Here’s how the Social Security Administration runs the math: If you are receiving a Social Security benefit and are under full retirement age for the entire year, $1 is deducted from your benefit payments for every $2 you earn above the annual earnings limit. For 2024, that limit is $22,320.
In the year you reach full retirement age, $1 in benefits is deducted from your monthly benefit for every $3 you earn, but only earnings before the month you reach your full retirement age are counted. If you reach full retirement age in 2024, the limit on your earnings for the months before your birthday is $59,520.
What counts as earnings are the wages you make from your job or your net earnings if you’re self-employed. The calculation also includes bonuses, commissions, and vacation pay. What’s not counted: pensions, annuities, investment income, interest, veterans benefits, or other government or military retirement benefits.
But you will get any deductions back. Once you reach FRA, your monthly benefit will be increased permanently to account for the months in which benefits were withheld.
One additional caveat to keep in mind: Premiums for Medicare Part B, which covers doctors’ visits and outpatient services, and Part D, which covers prescription drugs, could increase if you earn significantly more money. If you earn more than $103,000 as an individual or more than $206,000 if you’re a joint filer, you’ll pay an extra amount. Those premiums are typically pulled from your monthly Social Security check.
Dear Kerry, I am 62, working and receiving a spouse’s survival benefits. If I retire and file for Social Security benefits, do I have to choose one or can I get two? — Silvia V.
Thanks for this great question, Silvia.
You can only choose one benefit; the larger of the two will typically become your sole benefit.
As a surviving spouse, you can receive 100% of a deceased spouse’s benefit if you had waited until your own FRA, 67, when you claimed the survivors benefit. The benefit amount, however, is reduced for ages less than FRA. The closer you are to your FRA, the greater the benefit.
The upside for you, though, is that it’s possible to claim a widow’s benefit, as you have, while letting your own retirement benefit grow. For example, you may claim a widow’s benefit at 60, and then shift to your own retirement benefit at age 70, if it’s a larger amount.
Meantime, while this doesn’t apply in your case, it’s important to mention for other surviving spouses that if you and your late spouse were both claiming Social Security benefits at the time of their death, then the larger of the two benefits becomes your survivors benefit.
Then too, for a surviving spouse, if you applied for your own Social Security benefit less than 12 months prior to the death of your spouse, you have the option to withdraw this application and apply for survivors benefits if it is a larger amount.
Bottom line: A surviving spouse, surviving divorced spouse, unmarried child, or dependent parent may be eligible for monthly survivor benefits based on the deceased worker’s earnings. There are myriad variables to consider, so I advise reaching out to Social Security directly.
Have a question about about retirement? Personal finances? Anything career-related? Drop Kerry Hannon a note.
Is it possible to will my Social Security balance to my children? — Edwin S
No. Once you start Social Security retirement benefits, you’re generally guaranteed to receive monthly checks for the rest of your life. But, Edwin, that comes to a hard stop when you die.
There are exceptions for family members who may be eligible to receive survivor benefits based on the deceased beneficiary’s earnings record starting as soon as the month they died.
When a parent, for example, receives Social Security retirement or disability benefits and dies, their child may also receive benefits. Under certain circumstances, a stepchild, adopted child, or dependent grandchild or step-grandchild may also qualify.
To receive benefits, the child must be unmarried and younger than age 18, or between ages 18 and 19 and a full-time student at an elementary or secondary school (grade 12 or below), or age 18 or older with a disability that began before age 22.
Thanks to my Yahoo Finance readers who felt comfortable sending along your questions. My advice for all of you trying to make sense of your Social Security benefits: Create a My Social Security account. This is a customized portal that lets you check the status of a benefits application, estimate future benefits, or manage the benefits you already receive. You can set up an account even if you don’t currently receive benefits. Do it.
Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist, and the author of 14 books, including “In Control at 50+: How to Succeed in The New World of Work” and “Never Too Old To Get Rich.” Follow her on X @kerryhannon.
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Finance
Rexas Finance (RXS) Trending Alongside Bitcoin (BTC) and Shiba Inu (SHIB) as Presale Attracts Strong Investor Interest—Here's Why – Brave New Coin
![Rexas Finance (RXS) Trending Alongside Bitcoin (BTC) and Shiba Inu (SHIB) as Presale Attracts Strong Investor Interest—Here's Why – Brave New Coin Rexas Finance (RXS) Trending Alongside Bitcoin (BTC) and Shiba Inu (SHIB) as Presale Attracts Strong Investor Interest—Here's Why – Brave New Coin](https://bravenewcoin.com/wp-content/uploads/2024/09/RXS-Banner-10th-Sept.jpg)
With the presale of Rexas Finance (RXS) officially launched on September 8, 2024, the project has garnered significant attention from the cryptocurrency community, alongside heavyweights like Bitcoin and Shiba Inu. This article explains why Rexas Finance is trending and why investors are so excited about this Real-World Asset (RWA) tokenization platform.
But before we dive into that, let’s take a quick look at why Bitcoin and Shiba Inu have been trending:
Why is Bitcoin Trending?
Bitcoin is currently trending due to several key factors contributing to its sharp price decline. The anticipated Federal Reserve rate cut in the U.S., expected in mid-September, has created uncertainty in the market, with analysts predicting a potential 15-20% decline in BTC’s price, pushing it down to the $40,000-$50,000 range. Also, substantial outflows from Bitcoin ETFs, amounting to $287.8 million, reflect institutional reluctance to invest amid the current downturn, further intensifying bearish sentiment. These combined factors, along with decreased activity in Bitcoin addresses, have led to a significant drop in price, and market sentiment has shifted to “extreme fear,” contributing to Bitcoin’s continued presence in the headlines.
Why is Shiba Inu Trending?
Shiba Inu is trending due to a significant increase in whale activity, signaling potential shifts in market perception. In the last 24 hours, approximately 1.9 trillion SHIB tokens were transacted, reflecting a surge in large transactions. Data shows there were 98 large whale transactions within a day, with a peak of 100 transactions on September 4, 2024. This uptick in whale activity suggests that major holders are regaining interest in SHIB, which could indicate potential price movements or increased market volatility. Historically, large transactions by whales often lead to increased volatility, and such movements are closely watched by investors for signs of future price action. The rise in whale interest is an indicator that Shiba Inu might be regaining traction in the market.
What is Rexas Finance?
Rexas Finance is a platform that uses blockchain technology to turn real-world assets like real estate, art, and commodities into digital tokens. This process is called tokenization. By doing this, Rexas Finance makes it easier for people to buy, sell, and trade these assets in a way that’s similar to trading stocks. The platform is designed to be user-friendly, allowing anyone to participate, whether they’re experienced investors or new to the financial world. Essentially, Rexas Finance aims to make investment opportunities more accessible and transactions more efficient and secure for everyone.
Here’s an exploration of Rexas Finance in light of its dynamic ecosystem:
Core Components of the Rexas Finance Ecosystem
- Rexas Token Builder: This tool enables users to create digital tokens representing ownership or stakes in real-world assets without needing extensive technical knowledge. This democratizes the process of asset tokenization, making it accessible to a broader audience.
- Rexas QuickMint Bot: Integrated with popular messaging platforms like Telegram and Discord, this feature allows for the quick creation and trading of tokens. It simplifies user interaction with the platform, making tokenization as easy as sending a message.
- Rexas GenAI: Utilizing artificial intelligence, Rexas GenAI automates complex processes such as generating and managing digital art for NFTs. This not only enhances creativity but also lowers the entry barrier for users without a background in art or technology.
- Rexas AI Shield: Security is paramount in asset tokenization. Rexas AI Shield uses advanced AI algorithms to perform real-time audits and security monitoring, ensuring that all transactions are secure and transparent, and maintaining the integrity of the platform.
- Rexas Treasury and DeFi: This component optimizes the financial transactions within the ecosystem, utilizing decentralized finance (DeFi) principles to enhance yields, manage liquidity, and provide funding mechanisms that are secure and efficient.
Why is Rexas Finance Trending?
- Strong Presale Performance: The remarkable achievement of crossing the $200,000 mark on day one of the presale highlights the strong investor confidence in Rexas Finance. This response is indicative of the platform’s robust appeal and the potential it holds within the burgeoning field of asset tokenization.
- Market Optimism and the Coming Bull Run: With signs pointing towards a potential bull run, investors are eagerly searching for opportunities that promise substantial returns. Rexas Finance, with its innovative approach to making real-world assets like real estate and art more accessible and liquid through blockchain technology, is seen as a particularly attractive option.
- Innovative Investment Opportunities: Rexas Finance is not only catering to seasoned investors but is also attracting a new wave of tech-savvy participants. Its platform simplifies the investment process in traditionally illiquid assets, making it a go-to option during a time of positive market sentiment.
Implications for Investors
The strong start to the presale suggests that investor interest in Rexas Finance is high and could continue to grow as the presale progresses. Potential investors are advised to consider entering early to capitalize on the initial momentum and secure their position before the anticipated market surge.
Conclusion: A Strong Contender for the Next Big Crypto
With its innovative approach to RWA tokenization, a comprehensive and secure ecosystem, and early investor advantages, Rexas Finance is well-positioned to become one of the top-performing cryptos in 2024. As Bitcoin and Shiba Inu lead the market in their own ways, Rexas Finance is making a name for itself by transforming asset management and trading on the blockchain. Early participation in the RXS presale could be a game-changing opportunity for investors looking to get in on the ground floor of the next big crypto trend.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
Finance
Here's the 'magical' moment Goldman Sachs sees for tech stocks
To get big tech stocks powering higher again, it will take the convergence of two factors, says Goldman Sachs’ veteran tech analyst Kash Rangan.
The magic formula is a steady dose of interest rate cuts from the Federal Reserve combined with a burst of innovation that jumpstarts earnings growth in excess of 20%.
“We have to get the industry back from an 11% growth rate to 20%-30% and to do that, new innovation has to happen,” Rangan told Yahoo Finance at the Goldman Sachs Communacopia & Technology Conference on Monday.
Rangan — a bull on Microsoft (MSFT) and Salesforce (CRM) — says the tech sector must deliver on the AI front in areas like upselling customers and monetization.
“When you compound that innovation with lower rates, magic happens,” Rangan said.
Investor attention is squarely on the Fed as it nears its next monetary policy decision on Sept. 18.
The Fed has widely telegraphed its first rate cut in several years as it looks to stabilize an economy that’s beginning to slow.
“I wouldn’t rule out 50 basis points, but 25 basis points strikes me as more likely,” Goldman Sachs chief economist Jan Hatzius told Yahoo Finance at the conference.
“I think there is a solid rationale for doing [a 50 basis point cut]. And the rationale is that five and three-eighths, five and a quarter to 5.5% is a really high fed funds rate. It’s the highest policy rate in the G10. It is despite the fact that the US has actually seen more progress on inflation than most G10 economies,” Hatzius added.
As for the other component, that may take a little more time — although signs of fresh innovation inside the AI growth story is beginning to surface.
Salesforce co-founder and CEO Marc Benioff told me in late August the company is on the cusp of releasing AI powered digital agents that can help businesses automate customer service. Salesforce will charge the usage by conversation, Benioff says.
Meantime, AMD (AMD) chair and CEO Dr. Lisa Su took the veil off a series of new AI chips through 2026 in an interview at the conference today.
“AI is a much larger cycle than I would have expected five years ago,” Su said.
To be sure, tech stocks could use a little magic right now.
The tech-heavy Nasdaq Composite has shed about 5% in September as investors take profits in hot AI trades amid fears of slowing economic growth. Investors have also been concerned about an AI spending slowdown, triggered in part by mixed second quarter earnings from chip powerhouse Nvidia (NVDA).
Nvidia is off by a whopping 11% month to date, with AMD down 7%.
“The recent performance [of Nvidia’s stock] hasn’t been great, but we do remain positive on the stock,” Goldman Sachs analyst Toshiya Hari told Yahoo Finance at the conference. “First of all, demand for accelerated computing continues to be really strong. We tend to spend quite a bit of time on the hyperscalers — the Amazons (AMZN), the Googles (GOOGL), the Microsofts (MSFT) of the world — but you are seeing a broadening in the demand profile into enterprise, even at the sovereign states.”
Three times each week, I field insight-filled conversations with the biggest names in business and markets on Opening Bid. Find more episodes on our video hub. Watch on your preferred streaming service. Or listen and subscribe on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.
In the below Opening Bid episode, State Street Global Markets head of equity research Marija Veitname makes her case for the AI sell-off being overdone.
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Brian Sozzi is Yahoo Finance’s Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.
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Finance
Japan to nominate ex-top finance diplomat Kanda as next ADB chief
![Japan to nominate ex-top finance diplomat Kanda as next ADB chief Japan to nominate ex-top finance diplomat Kanda as next ADB chief](https://img.kyodonews.net/english/public/images/posts/bd013b899a69e0ff5a85c67bcb859e3b/photo_l.jpg)
The government plans to nominate Japan’s former top finance diplomat, Masato Kanda, as the next president of the Asian Development Bank, sources familiar with the matter said Monday.
Japan has dominated the chief post of the ADB since the Manila-based multilateral lender was established in 1966. If elected by member countries, Kanda, 59, will succeed Masatsugu Asakawa, another former senior official of the country’s Finance Ministry.
Combined photo shows Masatsugu Asakawa (L) and Masato Kanda. (Kyodo)
The ADB announced the same day that Asakawa will step down on Feb. 23. He took up the presidency in January 2020 and was reelected in August 2021.
Kanda was behind recent massive market interventions by Japan to stem the yen’s sharp falls against other major currencies as vice finance minister for international affairs. He left the post in July after serving for three years.
“We’ll promptly recommend the most suitable person from Japan,” Finance Minister Shunichi Suzuki said in a statement without giving any specific name following the ADB’s announcement.
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