Planet Money Escheat show (Classic)
May 4, 2022
Ever wondered if the government might be holding onto some of your forgotten money? Discover the journey of individuals reclaiming lost assets, like Walter Schramm’s surprising stock discoveries. Learn about the escheat process, where unclaimed property goes to the state, and the humorous yet serious intricacies of asset management. Dive into the investment landscape with tales of Amazon stocks and witness how unclaimed wealth can impact both personal fortunes and state finances. It's a blend of finance, mystery, and the art of patience!
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Walter's Missing Money
- Walter Schramm invested in Amazon stock and didn't check it for 20 years.
- He was shocked to find his account empty when he finally logged in.
Escheat: Good or Bad?
- Unclaimed property systems can be viewed as beneficial or exploitative, depending on one's perspective.
- They protect consumers from corporations but also enable states to use unclaimed funds.
Find Your Lost Money
- Check your state's unclaimed property website for missing money or assets.
- You might have forgotten paychecks, utility credits, or old bank accounts.