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Philly.com Personal Finance



Personal finance news and tips from Philly.com.



Published: Fri, 20 Oct 2017 01:07:23 GMT2017-10-20T01:07:23Z

 



A 1987-style Wall St. crash? In 2017, that's a one-day stock market drop of 5,060 points

Fri, 20 Oct 2017 01:07:23 GMT2017-10-20T01:07:23Z

What would that day's 22 percent market crash - a la Black Monday 1987 - look like today? The Dow Jones Industrial Average this week has soared to a new record close of 23,000 - and would have to drop over 5,000 points (5,060, to be exact) in one day to lose an equivalent 22 percent.



Destination Maternity's board reelected despite Orchestra proxy battle

Thu, 19 Oct 2017 21:27:49 GMT2017-10-19T21:27:49Z

French children's-clothing retailer Orchestra-Prémaman - which made an offer to acquire Destination Maternity in October 2015, then entered into a later-terminated merger agreement in December 2016 - had sought the board's resignation. Orchestra owns 1,921,820 shares, or 13.8 percent, of Destination's stock.



Boomers, want to redefine happiness in your work and life? Hire a coach

Thu, 19 Oct 2017 18:58:51 GMT2017-10-19T18:58:51Z

As you ponder your next chapter, here's a question to ask yourself: Are you a joiner or a builder?



Some Destination Maternity shareholders voting for new blood on board

Thu, 19 Oct 2017 00:26:20 GMT2017-10-19T00:26:20Z

Investor activist Tim Stabosz holds 3 percent of Destination Maternity. "I'm a material shareholder, so I'm glad to see the company is exploring other options" including a sale of the company, he said. "I'd like to see Destination Maternity sold at a price of at least $3.00 a share or higher," said Stabosz. A private equity fund or another retailer might buy Destination Maternity, he said, saying the company was a bargain at its current $33 million market cap, or about $2.30 a share.



Why attorneys general should sue student loan predators | Editorial

Wed, 18 Oct 2017 19:23:37 GMT2017-10-18T19:23:37Z

It seems everybody but the student borrower gets a financial advantage, and that is a disgrace.



Why payday loan sharks should be arrested and tried | Editorial

Mon, 16 Oct 2017 16:32:37 GMT2017-10-16T16:32:37Z

There are now more payday loan stores in the United States than McDonald's restaurants. An estimated 12 million borrowers who lack access to credit elsewhere turn to payday lenders.



What keeps the stock market rising? And will bond prices fall when interest rates climb?

Mon, 16 Oct 2017 10:03:44 GMT2017-10-16T10:03:44Z

"There's still more than $2 trillion in cash not invested - and that's just in money market funds," Leo Grohowski said. The BNY Mellon CIO noted a lot of investors sitting on the sidelines. "Each time there's a correction of even a few percent, more of that money comes rushing back into stocks."



Reinvent yourself, and reinvent again, advises a 78-year-old Malvern studio founder

Sun, 15 Oct 2017 14:13:29 GMT2017-10-15T14:13:29Z

Emmet Robinson's one-man business operation is the culmination of years of different jobs, jobs that built on themselves, including audio recording, photo restoration, voice-over work for corporations and law firm video, and business coaching for other seniors.



New Medicare cards coming, but so are new scams

Sun, 15 Oct 2017 05:31:51 GMT2017-10-15T05:31:51Z

The new ID, called a Medicare Beneficiary Identifier, is 11 characters in length, numbers and uppercase letters, a unique, randomly assigned code. Still, you can bet fraudsters will write a script on how they’re from Medicare or Social Security and need information, including your Social Security number, right now.



Why seniors should choose wisely when selecting Medigap supplement insurance

Sun, 15 Oct 2017 05:31:50 GMT2017-10-15T05:31:50Z

After 2020, Plans F and C, the most popular, won’t be available to new participants



Retired and want to keep your brain engaged? REAP Talks may be for you

Fri, 13 Oct 2017 10:15:51 GMT2017-10-13T10:15:51Z

REAPTalk members meet every week to hear one another's research and lectures, stimulating their senior brains to learn about a topic that's brand new.



Will students and co-signer parents get money back as Pa. AG sues Navient?

Mon, 09 Oct 2017 13:19:56 GMT2017-10-09T13:19:56Z

The lawsuit, filed in U.S. District Court for the Middle District of Pennsylvania, may affect hundreds of thousands of Pennsylvanians, including anyone who received private student loans from Sallie Mae or who had federal or private student loans serviced by Navient.