Sears Kmart to close more stores amid cash squeeze
Sears Holdings plans at least three new closings including a Sears in New York a Kmart in New York and a Kmart in Virginia. BI reports eleven locations in this round with hundreds of closures in recent years as Eddie Lampert and the firm seek cash and debt relief ahead of a key Oct. 15 debt payment.
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MoviePass pressures ex-customers to opt out or be charged
Former MoviePass clients received an email instructing them to opt out by Thursday or face unavoidable charges for the service. The note says those remaining enrolled will regain unlimited access at 9.95 per month starting October 5 2018, tying billing to a monthly renewal.
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Cashing out a 401(k) not worth it in most cases
The Motley Fool advises against cashing out a 401(k) after leaving a job. A $20,000 withdrawal before age 59½ incurs a 10 percent penalty plus income taxes, shrinking to about $12,600. Leaving funds invested could grow to over $152,000 by retirement, making a short term debt payoff rarely justified unless severe hardship exists.
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