Yes, all normal. I've had many jades put out new grow from the lower trunk and really anywhere on the trunk in addition to the normal leaf-top growth. Most of the time I don't like such low branches, so I just knock them off, it's a matter of your preference of how you want the tree to look later on. Also same, the dry yellow leaves, if I'm late in watering them they use up the lower leaf, most time they are too far gone and will drop off or I just remove them if unsightly. Also, a jade will be stressed if it is thirsty for a while such as when the leaves are wrinkled, I water mine (with some fertilizer) when the soil is just dry.

Old leaves will eventually dry up, shrivel and fall off - usually one at the time. Overwatered leaves will turn yellowish color, almost translucent and they will feel soft - full of water. Or it could be thirsty, and leaves will slowly yellow and get wrinkly. I can't tell from your photo which one is the cause because photo is not clear enough.

Thank you both! Glad to know it's not a bad thing.