7 ways to find unclaimed money

Nowadays, we could all use a little bit of extra cash. However, many people have no idea that unclaimed money is waiting with their name on it. In state treasuries alone, 1 in 10 people are owed money from places like banks, former employers and unclaimed tax refunds. If you answer “yes” to any of the questions below, you might be eligible for free dough.

1. Did Your Bank Recently Close?
Once a financial institution fails, the FDIC takes over and is responsible for paying insured deposits and the liquidation of remaining assets. If you did not claim your funds when the bank closed, you still can. “If your bank was never bought out by another bank, there is likely money out there for the bank account holder or power of attorney,” says Marcia Keppy, an unclaimed property expert and asset protection specialist. You can search for unclaimed funds in your name at www2.FDIC.gov/Funds/Index.asp.

2. Did Your Credit Union Fail?
When a credit union with federal insurance is liquidated, the National Credit Union Administration’s Asset Management and Assistance Center is responsible for paying the share accounts to members. Due to uncashed checks or incomplete addresses, some of the money remains unclaimed. If you think the National Credit Union Administration may have funds in your name, contact its Asset Management and Assistance Center at 512-231-7900.

3. Do You Have an FHA-Insured Mortgage?
Then you might be eligible for a refund from the U.S. Department of Housing and Urban Development. Find out if there’s a refund for you at HUD.gov/Offices/HSG/comp/refunds/index.cfm.

4. Are You a Former Employee of a Company That Went Out of Business?
If a company you worked for went belly-up, you may still be eligible for any pension earned while you were there. When a company goes out of business, the pension plan is generally transferred to the Pension Benefit Guaranty Corporation (PBGC). “The company should contact the former employees, but it just depends,” says Keppy. If the company doesn’t reach out to you, you can check the Missing Participants service at PBGC to see if any money is owed to you at https://Search.PBGC.gov/mp/mp.aspx.

5. Did You Not Receive Your Tax Refund Earlier This Year?
If you have not received your tax refund, it could be due to an incorrect address. There could be other reasons as well. “If you recently got a divorce or a close family member passed away, the IRS could still have an unclaimed tax refund on file,” says Keppy. Visit IRS.gov to claim it.

6. Could You Possibly Have Unclaimed Property in Your State?
Over $32 billion in unclaimed property is currently being safeguarded by state treasurers and agencies. Unclaimed property refers to accounts in financial institutions and companies that have been inactive or had no contact with the owner for over a year. It includes savings or checking accounts, uncashed payroll checks, certificates of deposit, stocks and more. Every U.S. state has unclaimed property programs that help find the rightful owners. “If you’re over 40 or if you’ve moved often, you’re more likely to have unclaimed property,” says Keppy. Also, if your parents have passed away, be sure to check their names. Go to MissingMoney.com to do a free search for money that might be due to you.

7. Do You Qualify for Government Benefit and Assistance Programs?
If you’ve been affected by a disaster or disability, need help with child care or health care, or require tax or living assistance, you may be eligible for financial assistance from the government. Go to GovBenefits.gov and search for specific benefits or take a questionnaire to find out which program(s) you may qualify for.

Traits that billionaires have in common

Want to become a tech titan or hedge fund tycoon? Up your chances by dropping out of college or going to Harvard and working at Goldman Sachs.

Are billionaires born or made? What are the common attributes among the uber-wealthy? Are there any true secrets of the self-made?

We get these questions a lot, and decided it was time to go beyond the broad answers of smarts, ambition and luck by sorting through our database of wealthy individuals in search of bona fide trends. We analyzed everything from entrepreneurs' parents' professions to where they went to school, their track records in the early stages of their careers and other experiences that may have set them on the path to extreme wealth.

Our admittedly unscientific study of the self-made members of the Forbes 400 yielded some interesting results.

First, a significant percentage of them had parents with a high aptitude for math. The ability to crunch numbers is crucial to becoming a billionaire, and mathematical prowess is hereditary. Some of the most common professions among the parents of Forbes 400 members (for whom we could find the information) were engineer, accountant and small-business owner.

Consistent with the rest of the population, more American billionaires and near-billionaires were born in the fall than in any other season. However, relatively few of them were born in December, historically the month with the eighth-highest birth rate.

Of the 274 self-made tycoons on the Forbes 400, 14% either never started or never completed college. The number of precocious college dropouts is highest among those who forged careers as technology entrepreneurs: Bill Gates of Microsoft (MSFT), Steve Jobs of Apple (AAPL), Michael Dell of Dell (DELL), Larry Ellison of Oracle (ORCL) and Mark Zuckerberg of Facebook.

Forbes 400 members who derive their fortunes from finance make up one of the most highly educated sub-groups: half of them have graduate degrees. Roughly 70% of those with M.B.A.s obtained their master's degrees from one of three Ivy League schools: Harvard, Columbia or the University of Pennsylvania's Wharton School of Business.

Goldman Sachs (GS) has attracted a large share of hungry minds that went on to garner 10-figure fortunes. At least 11 current and recent billionaire financiers worked at Goldman or one of it subsidiaries early in their careers, including Edward Lampert, David Tepper, Daniel Och and Leon Cooperman.

Several Forbes 400 members suffered bitter professional setbacks early in their careers that heightened their fear of failure. Pharmaceutical tycoon R.J. Kirk's first venture was a flop--an experience he regrets but appreciates. "Failure early on is a necessary condition for success, though not a sufficient one," he told Forbes in 2007.

According to a statement read by Phil Falcone during a congressional hearing in November 2008, his botched buyout of a company in Newark, N.J., in the early 1990s taught him "several valuable lessons that have had a profound impact upon my success as a hedge fund manager."

Several current and former billionaires rounded out their Yale careers as members of Skull and Bones, the secret society portrayed with enigmatic relish by Hollywood in movies like The Skulls and W. Among those who were inducted: investor Edward Lampert, Blackstone co-founder Stephen Schwarzman, and FedEx (FDX) founder Frederick Smith.

© Brand X Pictures/Getty Images

Parents Had Math-Related Careers

The ability to crunch numbers is typically a key to becoming a billionaire. Often, mathematical prowess is hereditary. Some of the most common professions among the parents of American billionaires for whom we could find that information were engineer, accountant and small-business owner.

© Brooke Slezak/Getty Images

September Birthdays

Of the 380 self-made American tycoons who have appeared on the Forbes list of the World's Billionaires in the past three years, 42 were born in September--more than in any other month.

© iStockphoto

Tech Titans Who Dropped Out of College

Forget everything your guidance counselor told you: You don't have to go to college to be successful. Close to 15% of the self-made American moguls on the Forbes 400 never finished college. Many of the list's drop-outs made their fortunes in tech, including Bill Gates (Microsoft), Steve Jobs (Apple), Michael Dell (Dell), Larry Ellison (Oracle) and Mark Zuckerberg (Facebook).

Skull and Bones

Several current and former billionaires rounded out their Yale careers as members of Skull and Bones, the secret society portrayed with enigmatic relish by Hollywood in movies like The Skulls and W. Among those who were inducted: investor Edward Lampert, Blackstone co-founder Stephen Schwarzman and FedEx founder Frederick Smith.

© Chris Hondros/Getty Images

Goldman Sachs

A stint at investment bank Goldman Sachs is a prime credential for achieving greatness on Wall Street. Of the 61 tycoons on our list who derive their fortunes from finance, at least six cut their teeth in Goldman's investment banking, trading, or asset management divisions. The company's crown jewel: its "risk arbitrage" unit, which launched the careers of billionaires Edward Lampert and Daniel Och, as well as former billionaires Tom Steyer and Richard Perry.