March 2020 Publisher’s Choice
“The Little Book of Missing Money”
A Quick and Easy Guide to Finding Money That is Rightfully Yours
by Mary Pitman
Reviewed by Anita Finley
This little book (fourth edition) can help some readers find money that they had not even imagined they had! Fascinated by every page, I can’t wait to find some time to try it for myself.
We have heard stories of people finding money in mattresses and closets of deceased family members, but this book provides easy instructions for an enormous amount of searches, from banking services, financial accounts and stock portfolios. there may be insurance policies never cashed in or even gift cards that still had money left in them. Veterans benefits that have not been claimed is a big one.
What about performed royalties if you were an entertainer and forgot about them since they may have been so long in the past. There is a big chapter on local, county, state and federal taxes that you may have overpaid. In many situations, excess money just sits in a large pool and waits for claims. Of course, there are time limits, but Pitman’s book, The Little Book of Missing Money cites those details.
Pitman’s “20 Tips to Prevent Your Money from Going to the State,” shares how you should make sure all your banking and investments have your correct address and phone; safe deposit boxes are a big source of leftovers; make sure your beneficiaries are correctly listed; change of address forms on all your accounts, credit cards, insurance policies, etc. One tip that I have started being aware of is always make sure to open all mail. Sometimes the envelope looks like junk mail, but it could be a check or important information.
To pique your interest about what topics are covered, here are some of the chapter titles: The Places to Look: The Government, The Courts, Banking, Financial Services, Stocks, Professional Organizations, Retirement Benefits, Life Insurance (US & Canada), International Unclaimed Property, Retirement Benefits, Life Insurance (US & Canada), International Unclaimed Property, Compensation Funds, Miscellaneous Money, and so much more!
Some of the fun facts in the chapters: Unclaimed property laws have been around in the US since the 1930s; New York is holding $16 billion in unclaimed property; the single largest payout to an individual in the US was $32.8 million from a stock claim to a person in Connecticut. States returned more than $3.2 billion to the rightful owners in FY 2015. Some states sell their unclaimed property information to finders for a fee. So after reading all of this, have we gotten your attention?
About the author:
Consumer advocate Mary Pitman has been on Good Morning America, America’s Money Class with Suzie Orman, AARP, CNN Money, plus regional and local TV and more than 100 radio programs. She lives in Vero Beach. (She will be on the Boomer Times Radio Show, so be sure to listen in March and April…dates not yet posted.)
(Purchase The Little Book of Missing Money on Amazon.)