That sounds pretty good, right? It’s everyone’s dream, a rich great-uncle that you never knew, and years later you find out that you were left a fortune in his will, and he’s been dead for years and a banker’s knocking at the door trying to give you a bag full of Krugerrands. Ah, those are the good dreams.
And the folks at Xcelerated Profits are taking full advantage of this dream of the misplaced inheritance in their latest ad … here’s how the opening reads:
“How to Collect $30,000 to $250,000 in “Unclaimed Inheritance Money”
* “Shep Greene of Hobe Sound, FL claimed $210,000
* “Joshua Schultz of Mystic, CT claimed $190,000
* “Kathy Leeman of San Diego, CA claimed $207,801
“Discover why Reader’s Digest calls these windfall payouts an amazing way to ‘Get cold cash in tough economic times.’ “
This is actually something that has gathered a fair amount of attention in recent months, as folks who have seen their retirement savings decimated are desperately hunting for cash under the mattress — so this ad is circulating from Xcelerated Profits, and there’s a fairly similar strategy being talked about by David Eifrig for his Retirement Millionaire newsletter.
I’m sure both of those guys know more about this stuff than I do, but I can at least explain what they’re really talking about.
So what is it? Is this cash really sitting out there somewhere.
Well … as usually, it’s a “kinda sorta maybe.”
Let’s look at the details as Marc Lichtenfeld teases ’em …
“When Hobe Sound, Florida resident Shep Greene first heard about a unique opportunity to collect ‘unclaimed inheritance money’ – he was skeptical.
“But after researching the situation further… he discovered regular folks just like him were collecting lump-sum payouts with no strings attached.
“So Shep, a 69 year-old retiree with unexpected medical expenses and a dwindling retirement account, decided to complete a simple payout request form…
“Within two months Shep Greene received a $210,000 check.
“Indeed billions of dollars of ‘inheritance money’ goes unclaimed every year… in the U.S. alone.
“Today, I’d like to tell you about a little-known way for you to collect from this ‘pool’ of money.”
And yes, I think that on the first day of copywriter school they must sit you down and tell you that as long as you put a word or phrase in quotes, it can mean whatever you want it to mean. These are, of course, not “inheritances” of any kind (though they will shrink any inheritance you might want to leave … and they are, of necessity, unclaimed).
So … some more details to try to understand what this is?
“It’s no wonder BusinessWeek says, ‘For people who need quick cash or want to supplement their retirement nest eggs, the [‘inheritance money’] can be a boon.’
“Just ninety-days from now you could receive your “inheritance check” for $30,000 to $250,000. “
Ah, so we get the good ‘ol quote from a well known magazine to make it seem more legit, that’s a standard technique (and of course, the quote from Reader’s Digest above, too, though perhaps that will seem to be a bit less of a solid financial source now that they’ve decided to declare bankruptcy).
Now, if we’re going to pay for a newsletter subscription to get this info it must be top-secret, hidden in some government file, or so complicated that we mere mortals couldn’t understand it, right? Well, that’s the next part of the ad:
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“The Obscure 1911 Supreme Court Ruling That Makes This Possible…
“You may be wondering exactly what it is I’m talking about…
“It started in 1911 when Dr. A.H. Grigsby treated a patient named John Burchard.
“Burchard needed a surgical operation, but didn’t have the money to cover medical expenses. Dr. Grigsby performed the surgery but later in the year upon Burchard’s death he went to court to try collecting payment from Burchard’s estate.
“The case reached the Supreme Court, and decision GRIG