As a Financial Advisor I am often asked how to make extra money. Let me share some personal experiences to show that money can be found in the darndest places.
I was reading an article on unclaimed life insurance payouts and decided to see if I might have a long-lost uncle buried somewhere. I went to one of the sites listed in the article, missingmoney.com, and to my great surprise there was my name and address. To my dismay the windfall turned out to be only $38.01, but, hey, that’s 5-6 pizzas so I filled out the form and sent it to the Unclaimed Property Division in the Colorado Department of Treasury. Three weeks later I received this postcard assigning me a claim number and telling me that it may take 12-15 weeks. 12-15 weeks! On the bright side, look at the education I received about corporate America and about Government. The largest U.S. company at that time had a dividend check for me; they had my name and they had my address so they sent the money to the State of Colorado. Colorado took the time to put the information on its website, but when the bureaucrats receive all the documentation they asked for, they tell me to wait 12-15 weeks. Oh well, pizza delayed is better than no pizza at all.
In January I had a tooth pulled. I go to the dentist office and three different people ask me how I’m doing. I am in a dentist office to get a tooth pulled, and they ask me how I’m doing?? After he yanks out my tooth (they use the word “extraction”), the dentist asks if I want the tooth. “Of course,” I said thinking of the tooth fairy. He then mentions there might be some gold in the filling. So, I take it home in a little tooth carrying case and put it under my pillow. Sure enough, some chocolate appears, but the tooth is still there. Now I’m waiting for the price of gold to go up so, according to that TV ad, I can sell my gold to a stranger in a motel room. One word of advice – the tooth fairy sometimes needs help, that’s why I told my girlfriend I put the tooth under my pillow.
Years and years ago I loaned some money to an acquaintance so she could fix her car and drive to work and take her kids to school. Long story made short: no repayment, I won the Small Claims Court case, no payment, garnishment order, still no payment. I pretty much figured the money was gone. Several years later I received a court notification of bankruptcy filing. The money was really gone forever! Then the court sent me $2000. This went into a bucket of money called, Things I Would Never Buy for Myself. That’s why I have my I-Pad and why I had a massage last month.
The take away – be on the look out for unexpected money and put it to good use.