
Consider this: About 1 in 7 people has unclaimed cash or property, totaling billions of dollars, according to the National Association of Unclaimed Property Administrators. How can you avoid losing track of valuable financial assets?
For starters, keep good records of your 401(k) and IRA accounts. And report a change of address and name changes to financial services providers and former employers. Also, try not to maintain multiple accounts in scattered locations.
But what can you do if you suspect you’ve already left some money behind?
If you think you’ve lost tabs on an IRA, you can check old tax returns and bank statements to help track your contributions and find your previous financial provider. If it’s a 401(k), you can contact your old employer’s plan administrator.
You can also check some websites run by governmental agencies. For one, the Department of Labor recently launched a retirement savings lost-and-found database at lostandfound.dol.gov that can help you find pension or 401(k) plans connected to your Social Security number.
But as you’ve heard, “an ounce of prevention is worth a pound of cure” — which, in this case, means you’ll help yourself greatly by tracking your accounts from beginning to end.
This content was provided by Edward Jones for use by your local Edward Jones Financial Advisor, Casey Caliva, CFP®, AAMS™, at Historical 30th & Fern.
Member SIPC
Address: 2222 Fern St., San Diego CA 92104Phone: 619-516-2744Web: www.edwardjones.com/casey-caliva