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There’s this law called “escheat” (pronounced “a sheet”) which basically says that if a company has some of your money (either a bank account, owes you a refund, etc) and they don’t hear from you for a long time, they have to turn it over to the state government. Then the state government adds that money to their own budget and puts your name on a list. If you ever show up to claim it, they give you your money back. But if you don’t, it just turns into more tax revenue for them.
Sounds kinda crazy, but I just did this search for a handful of my friends and found lost money for MOST of them. (None for myself sadly… damn my financially organized habits!)
Go try for yourself. Every state’s system is different and none of them are all that great. Make sure to try it in every state you have lived in. You may be surprised that there’s a lost paycheck, refund from a utility company, missing bank account, etc! Comment below with how much you found! Maybe this will turn escheat day into a good one!
As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.
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