According to one recent study, there are more than $70 billion in unclaimed assets in the United States right now. It has been estimated that about one out of every seven people have some type of property that is being held by a state.
Make no mistake: this is not some wild fantasy. People successfully reclaim those missing funds every day and there are a wide range of different success stories out there that go a long way towards proving it.
Lost and Found: Reclaiming Forgotten Funds
One of the biggest heartwarming stories that people typically have when reclaiming unclaimed wealth comes down to fixing a mistake from the past.
For the sake of example, say you had a bank account with a financial institution that failed in the past. That money was FDIC insured, but through bad luck or happenstance, you thought it was gone forever. The fact of the matter is, you worked hard for that money. It is rightfully yours. Thankfully, there’s a better than average chance that you can not only locate that money, but fully reclaim it as well. All you need to do is follow a straightforward process to get your desired result.
The same is true in a larger sense when it comes to children reclaiming the lost funds of a parent who may have passed away. Not everyone gets the opportunity to put their financial affairs in order before they leave us. People spend their lives working hard to provide a brighter future for their children. They likely not only have various bank accounts but also life insurance policies and similar investments as well.
If someone dies and their children don’t know those accounts exist, they will eventually get turned over to the state. That doesn’t mean this money is gone forever. You can absolutely prove that those funds are yours and reclaim them, which is exactly what your loved one would have wanted. Simply knowing that the money they intended for you finally made its way into your possession would absolutely put a smile on their face.
A Pathway to a Brighter Future
But more importantly, success stories abound related to people who discovered misplaced money at a turning point in their lives. These people were then able to use those funds to enact meaningful change that may have not otherwise been possible.
Keep in mind that the average amount of forgotten funds per person varies from state to state. In Massachusetts for example, the average amount is roughly $348.00. In Ohio, that number is $239.00. In New York state, the average amount of forgotten money per person is an impressive $704.00. While some of these totals are certainly bigger than others, all of it could mean quite a bit to someone in need.
If you’ve ever been hit with an unexpected medical bill and were unsure of exactly how you were going to pay for it, you would welcome the opportunity for $704.00 to come into your life. The same is true if you’ve been saving up to go on a vacation, or if you need money to pay for some type of renovation for your house. These types of funds could even make a major difference for people who are historically living paycheck to paycheck. Even $239.00 might mean that you can spend a little less time this month worrying about how you’re going to put gas in your car, food on your table, or pay for your rent or mortgage.
In the end, unclaimed funds are not uncommon and can occur for a laundry list of different reasons. The key takeaway from all of this is that the money is out there. If you haven’t already been motivated to go looking and see if there are any accounts out there with your name on them that may have been considered lost in the past, hopefully some of these success stories motivate you to do precisely that.
If you’d like to hear about even more heartwarming success stories of people reclaiming these funds, or if you’d just like to speak to someone about your own needs in a bit more detail, please don’t delay – contact the team at Wealth Recovery Alliance today.