By: Revanche

No please, keep your two cents

June 3, 2009

Remember how happy I was when I finally rolled over my Rollover IRA?

The pure joy may perhaps be less than obvious, but it was there, I promise. About three weeks after that happy occasion, I received Another Statement from my former brokerage. Wha?

Two cents. A dividend of two cents paid out into the account that was safely and finally closed, keeping it open. Then Chase, in their ongoing brand conversion, opened up a brokerage account for me funded by those two cents. I could just imagine trying to do something with that two cents and being charged another annual service fee. AUGH.

Grumpiness and inertia kept me from doing a darn thing about it until I received a Welcome to Our Brokerage Services! letter yesterday, complete with account number and phone number.

A few minutes later, a friendly fellow with Chase Brokerage services ran a solution by me: write off the two cents and close the account. Yes!! Thank you. They can have that two cents if it means one less account for me to deal with.

3 Responses to “No please, keep your two cents”

  1. OMG, but don’t you realize that if you INVESTED that $0.02 and it returned 8% annually, it would be work $0.13 in 25 years? That’s good money you’re throwing away!

    Nah, just kidding. I would have done the same thing.

  2. Miss M says:

    Hilarious, a zombie account. Just when you think you’ve finally killed it, it rises from the dead. It’s worth writing off 2 cents to not go through the hassle of dealing with trying to cash it out. Hopefully that will take care of it, or we’ll be hearing about the sequel soon.

  3. Revanche says:

    Paranoidasteroid: ZOMG! Now that you’ve done the math …!! 🙂

    Miss M: *shudder* I don’t know how much more sitting on hold I can take. Please begone, account!

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