A Guide to Japan's Closely Watched Government Bond Auctions
The global importance of auctions in Tokyo has been on show since a sale of 20-year securities last month caught investors off guard when a key measure of demand fell to the lowest level in more than a decade.
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Yahoo
22 minutes ago
- Yahoo
Half a million older Americans to start getting Social Security checks electronically — what you need to know
Social Security is switching to electronic-only payments, which could have a big impact on the 500,000 recipients who still receive their monthly benefits by mail. Beginning September 30 2025, the Social Security Administration (SSA) will no longer be issuing paper checks in the mail. The agency says the change is part of an effort to modernize government payment systems and enhance security and efficiency. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it The change affects fewer than 1% of SSA beneficiaries, but for those impacted — many of whom are older, live in rural areas or don't have a bank account — the transition could be significant. Why is the SSA phasing out paper checks? The switch to electronic payments isn't exactly a new concept. Back in 2013, the SSA required most new enrollees to receive their benefits electronically. However, this final push eliminates paper checks entirely. There are three main reasons for this shift: Faster payments: Electronic payments arrive on time, while mail carrier issues, natural disasters or delivery errors can delay paper checks Costs less: According to the U.S. Treasury, issuing a paper check costs approximately 50 cents, compared to less than 15 cents for an electronic transfer. With more than 500,000 benefit recipients still receiving paper checks once a month, that adds up to millions in potential savings per year Improved security: Paper checks are 16 times more likely to be stolen or lost in delivery. Digital payments reduce the risk of fraud and help prevent missed payments Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. What you need to know If you're still receiving paper checks, you will need to choose an electronic payment method before the September deadline. Otherwise, the SSA will automatically enroll you in a pre-paid debit card program. Here are your two options: 1. Direct deposit You can have your benefit sent straight to your checking or savings account. You'll need to provide your bank account and routing number to set up an electronic transfer. This is the fastest and most common method as it allows your benefits to be delivered quickly and you can spend the money as you typically would. 2. Direct Express debit card For people who don't have a bank account or prefer not to use direct deposit, this government-backed prepaid card offers a secure alternative. You can use it to withdraw cash, make purchases and track spending, just like a regular debit card. To sign up or make changes, log in to your my Social Security account or visit Choosing the right option depends on your situation. If you already have a bank account, direct deposit is likely the simplest choice. Providing your bank account and routing number will not allow anyone to pull money from your account without permission, only deposit funds. If you don't have a bank account, the Direct Express card provides a secure way to access your benefits. Here are a few steps you can take to make the transition smoother: Act early: Don't wait until the last minute to sign up. The SSA recommends making the switch well before the September 30 deadline Ask for help: SSA reps are available by phone, online or in-person at SSA offices to walk you through the process Monitor your accounts: After the switch, make sure to check your account or Direct Express balance to ensure funds arrive as expected Know the signs of a scam: The SSA will never ask for personal details via email or text. It will never offer to hold your funds to protect them, or ask you to convert assets into other forms of payment, such as gold or gift cards. While the shift away from paper checks might feel abrupt to some recipients, the SSA says it's committed to supporting individuals through the process. Don't be afraid to reach out for help. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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
CBS News
25 minutes ago
- CBS News
Is there an age limit when buying annuities?
When it comes to planning for retirement in today's unusual economic landscape, many Americans are looking beyond the traditional options, like savings accounts and 401(k)s. With stock market volatility becoming a more common part of the economic landscape, more soon-to-be retirees are turning toward more reliable options, like annuities, instead. These unique retirement products are particularly appealing right now because they offer a way to incorporate a guaranteed income stream into your retirement portfolio, offering peace of mind in an unpredictable economy. But annuities don't function like most other retirement tools, which can make them feel intimidating, especially when you're investing a hefty sum and start seeing numbers and terms you don't fully understand. And, one question that often pops up is whether your age limits your ability to buy an annuity, which is a fair concern. After all, these products are designed to provide income that lasts for the rest of your life, and the timing of your annuity purchase can significantly impact both how much you pay for an annuity and how much you receive in return. So, are there age restrictions to consider when you're buying an annuity? And, if so, what should you know before purchasing this type of retirement tool? Compare your annuity options to find the right fit for your portfolio. There generally isn't a strict age limit to buying an annuity. You can generally purchase one as long as the insurance company allows it, and there are no federal laws that cap the maximum age, either. That said, individual insurers will often impose their own limits, which can vary based on the type of annuity. Many providers set a maximum age for immediate or fixed annuities (which start paying out right away) at between 80 and 85 years old. Variable and deferred annuities, which begin payments later, may have slightly higher age caps, or they may have none at all. So why do insurers impose these limits on annuity purchases? The short answer is that it's largely about risk. The older the buyer, the shorter the period in which the company expects to make payments, which affects pricing and guarantees. From a consumer standpoint, understanding these limits is crucial because waiting too long to buy an annuity could mean fewer options or higher costs. In some cases, insurers may also require additional medical underwriting for older purchasers to ensure the product is appropriate. In addition to maximum age guidelines, there may be minimum age requirements. Most annuity products require buyers to be at least 18, for example, though some retirement-focused annuities align with tax-advantaged accounts like IRAs or 401(k)s and have restrictions based on those rules. Explore the top annuities available to you today. There's no perfect age for buying an annuity. You should generally use your retirement strategy rather than your birthday to determine the timing of your purchase. However, certain age ranges do offer distinct advantages when purchasing an annuity. For example, many financial advisors suggest considering annuities in your late 50s to mid-60s, especially if you're concerned about market volatility impacting your retirement savings. At this stage, you have enough time to benefit from potential growth in deferred annuities while still being young enough to qualify for the best rates and terms. But purchasing an immediate annuity right around your full retirement age — typically 66 to 67 for most people — can provide you with an income stream that complements your Social Security benefits. At this age, it also makes sense to convert a portion of your retirement savings into guaranteed income, providing a solid foundation for your retirement budget. That said, there can be advantages to waiting until your 70s or even early 80s to purchase an immediate annuity. Since these products are priced based on life expectancy, older purchasers often receive higher monthly payments. If you're in good health and have family longevity on your side, this could work in your favor. Ultimately, the key is to try and balance the higher payout rates that come with age against the risk of potentially disqualifying yourself due to health issues or facing reduced product availability. It's also worth considering that the longer you wait, the fewer years you'll have to recoup your initial investment. There isn't a hard-and-fast age limit for buying annuities, but the timing still matters. Most insurers accommodate buyers well into their 80s and sometimes beyond, particularly for immediate annuity products, but the optimal timing varies significantly based on your specific circumstances, health and financial goals. So, rather than focusing solely on age restrictions, it could make more sense to consider whether an annuity aligns with your overall retirement strategy. Before you make any decisions, though, be sure you fully understand the type of annuity, the payout options and how your age affects the pricing and the guarantees, as those factors are a critical part of making the right decision for your finances.
New York Times
25 minutes ago
- New York Times
Housing Agency to Offer Material Only in English, Official Says
The federal housing agency will no longer provide any material in languages other than English, a senior official told employees on Monday, as part of its efforts to carry out President Trump's executive order making English the country's official language. Putting the executive order in place will 'enhance social and economic integration,' the official, Andrew D. Hughes, the deputy secretary of the Department of Housing and Urban Development Department, wrote in a message to employees. But the order itself did not address whether agencies could provide materials or services in other languages. Critics have said the change could make it difficult for non-English speakers, including U.S. citizens, to access government services like affordable housing, health care and registering to vote. Mr. Hughes said the agency, known as HUD, would no longer have contracts for translation services for documents or communications. In addition, he said, all paper and online materials in languages other than English would be removed. 'We are one people, united, and we will speak with one voice and one language to deliver on our mission of expanding housing that is affordable,' Mr. Hughes wrote in the message. More than three-quarters of Americans speak only English at home, but there are some 42 million Spanish speakers and three million Chinese speakers in the country. Mr. Hughes said the department would continue providing services to people with visual and hearing impairments and follow other legal requirements. A labor union representing Housing and Urban Development employees said the steps outlined by Mr. Hughes violated Title VI of the Civil Rights Act, which requires the federal government and organizations that receive federal funding to give 'meaningful access' to people who struggle with understanding English. 'For the people HUD serves, this is devastating,' Local 476 of the American Federation of Government Employees wrote on social media on Monday. 'Millions of tenants, applicants, & survivors of violence need language access. Denying it could shut people out of housing & services they're entitled to by law.' And by canceling translation contracts, the union said, the agency could be adding new job duties to employees. The Justice Department issued guidance on the executive order in July, telling agencies that the president's order rescinded limited English proficiency stipulations.
