You know that delicious moment when you (re)discover $20 bucks you stuffed in a pocket last winter, or when you pull out an old birthday card and the cash is still inside?
Yeah, that’s right baby.
After moving from a paid advisor for my retirement savings to a less expensive fund, I diligently changed all my details with my employer, my bank etc. and closed the advice-for-fee account. I also have a dormant Military account (which can’t be closed). The Military account was left over from a year spent in the RAAF, and hadn’t received any new funds for almost a decade. I’d even transferred out the entire balance circa 2009. So imagine my surprise when I logged on (for shits and giggles, as you may well understand my personal finance friend) and found $789.87 sitting there. It turns out that after I closed my advice-for-fee account the Government decided to direct my co-contributions and LISC payments to my old military account rather than my new fund. Given my current retirement fund is around $29,000 (not including a Military benefit) this will add a neat 3.6% to the portfolio. Schweeeet!
Have a story of how you found a long-lost sum of cash? I’d love to hear it in the comments below!