
Nigeria's Aliko Dangote Retires as Chairman of Dangote Cement
He will be replaced effective immediately by Emmanuel Ikazoboh, the company statement said, while Mariya Aliko Dangote was appointed to the board.
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South Africa Approves $5.3 Billion Guarantees for Transnet Debt
South Africa's government approved 94.8 billion rand ($5.3 billion) in guarantees to further support state-owned rail and port operator Transnet SOC Ltd. The allocation includes 48.6 billion rand to ensure all of the company's debt redemptions will be covered over the next five years, the Department of Transport said in a statement on Sunday. The other 46.2 billion rand is to mitigate the risks of credit-ratings downgrades on Transnet's debt.
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With 11K Baby Boomers Retiring Daily And 401(k) Withdrawals Ramping Up, Are Millennials And Gen X About To Be The Ultimate Bag Holders?
Every day, about 11,000 baby boomers hit retirement age in the U.S., and the wave of 401(k) withdrawals is starting to gain momentum. That has many younger investors wondering: who's left holding the bag? Wealth Transfer Or Wealth Drain? On Reddit's r/stocks, one investor sparked a major debate with this post: 'With ~11k Boomers retiring daily, and the 401k spigot about to go on full blast, can't help but think how this transfer of wealth unfolds.' They raised a concern about whether there will be enough new investment inflows from younger generations to match the outflows from boomers selling off their assets. 'Ultimately, Millennials and Gen X ... could be the remaining bag holders,' the poster suggested. At least, as they say, 'those who were lucky enough to invest meaningfully in 401(k)s and taxable accounts.' Don't Miss: Be part of the breakthrough that could replace plastic as we know it— $100k+ in investable assets? – no cost, no obligation. But not everyone agrees with that framing. 'They've been retiring since 2011,' one person pointed out. 'The stock market has done just fine so far.' Another echoed that sentiment, saying, 'There will always be people retiring. The Baby Boomers started retiring 17 years ago... Why are you so convinced [the market crash] is going to happen now, when nearly all of the Boomers that were capable of retiring already did?' Wealth Inequality And Inheritance Several commenters emphasized that it's not boomers broadly driving the market, it's wealthy boomers. 'Most 401(k) holders ... are also the richest ones,' one person explained. 'The ones being forced to liquidate and sell don't have 401(k)s of a meaningful size. We're fine unless the rich people are screwed.' Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Then there's the question of where that money goes once boomers start drawing it down or pass it on. Some believe it simply recirculates. 'All money comes back to the market one way or another,' one commenter wrote. And inheritance is another piece of the puzzle. 'Who do you think is going to inherit all that wealth?' one investor asked. Others noted that wealthy boomers often advise their kids to stay invested: 'One even told his daughter, never sell this stock, just collect the dividends.' Healthcare, Housing, And The Real Risks But not all that wealth will be passed down. Nursing homes and healthcare costs are taking a bigger bite out of retirement savings than many expect. 'We spent $350K for my mom's nursing home in a 4.5-year period,' one person shared. Another added, 'Boomers are spending that money. You need to find out how to harness it.' The housing market is another looming issue. Some fear that when boomers pass away and their high-value homes hit the market, younger generations won't be able to afford them. 'Mark my words, one day there will be a massive crash in the housing market,' one investor many commenters argued that structural market shifts, not demographic trends, are the real drivers. 'Markets are not the same anymore,' one wrote, pointing to algorithmic trading, tech-driven investing, and persistent foreign inflows. Younger Generations Are Still Investing Despite these worries, younger Americans are investing more than ever. 'Millennials are saving for retirement earlier than any previous generation and Gen Z even earlier,' one person noted. For now, there's no clear consensus on whether millennials and Gen X will get stuck holding the bag. But one Redditor may have put it best: 'This has been a claim made every 10 years or so since 401(k)s have been a thing. I wouldn't worry about it.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article With 11K Baby Boomers Retiring Daily And 401(k) Withdrawals Ramping Up, Are Millennials And Gen X About To Be The Ultimate Bag Holders? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
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Social Security Wisdom: One Key Piece of Advice for All Retirees
Key Points Your full retirement age (FRA) is when you're eligible to receive your primary insurance amount. Claiming standard or spousal benefits before reaching your FRA will permanently reduce the monthly amount you receive. Earning over a certain amount while claiming benefits before your FRA could reduce your monthly benefit. The $23,760 Social Security bonus most retirees completely overlook › Social Security has been one of America's most essential social programs for quite some time. After years of paying into the Social Security system, it's a well-earned benefit. And for many Americans, it's most or all of their retirement income. Despite its importance, Social Security has many moving parts, which can be challenging to keep up with, even for people well-versed in the program. That's why it's a good idea to block out the fluff and focus on the most important parts of the program. If there's one piece of advice I'd offer retirees or those approaching retirement, it would be to be aware of how much Social Security revolves around your full retirement age (FRA). Why your FRA is one of the most important Social Security numbers Your FRA is when you're eligible to receive your primary insurance amount (PIA), which you can think of as your baseline benefit amount and the starting point Social Security uses to calculate your benefits. Here are FRAs based on birth years: Starting at your PIA, your monthly benefits are permanently affected based on when you claim relative to your FRA. Claiming before your FRA reduces your monthly benefit. If you're within 36 months of your FRA, benefits are reduced by 5/9 of 1% each month you claim early. If you claim benefits more than 36 months before your FRA, benefits are further reduced by 5/12 of 1% monthly. For someone whose FRA is 67, this means claiming benefits at 64 would reduce them by 20% and claiming at 62 (the earliest age you can claim) would reduce them by 30%. Those are significant deductions that warrant careful consideration of whether it's worth claiming early with the reduced benefit amount. On the opposite end, delaying benefits past your FRA increases them by 2/3 of 1% monthly, or 8% annually, until you turn 70. After 70, benefits are no longer increased by delaying them. Spousal benefits also revolve around your FRA Social Security spousal benefits allow someone to receive up to 50% of their partner's PIA. However, similar to standard benefits, claiming spousal benefits before your FRA will also permanently reduce them. The only difference is by how much. Claiming spousal benefits before your FRA will reduce your monthly benefit by 25/36 of 1% for the first 36 months. Every additional month after that further reduces benefits by 5/12 of 1% each month. To see it in action, let's assume your spouse's PIA is $2,000, making you eligible to receive $1,000 if you claim at your FRA. If your FRA is 67 and you were to claim benefits at 64, your monthly benefit would be reduced by 25% ($750). If you claim spousal benefits at 62, they'd be reduced by 35% ($650). Claiming benefits early and earning a certain amount could mean reduced benefits Plenty of people claim Social Security benefits early and continue to work. There's absolutely nothing wrong with that. However, if you decide to claim benefits early and continue working, you should be aware of how much you're making because you could be subjected to the retirement earnings test (RET). For those who won't reach their FRA in 2025, the earnings limit is $23,400. Earning more than that will reduce your annual benefits by $1 for every $2 over. For those who will reach FRA this year, the limit is $62,160. Earning above that before reaching FRA will reduce benefits by $1 for every $3 over. The good news is that reduced benefits aren't permanently lost. Once you reach your FRA, Social Security will recalculate your monthly benefit in a way that gradually adds the reduced amount back. The $23,760 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. Social Security Wisdom: One Key Piece of Advice for All Retirees was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data