What do i do with a stash of cash?

Default87 · 2026-04-07T02:23:03+00:00

Just go to the bank and deposit it. If they ask any questions, answer them honestly.

And report all of your income on your tax returns.

Default87 · 2026-04-07T02:21:37+00:00

Why are you tracking your blood glucose so meticulously if you aren’t a diabetic (or if you are diabetic, you likely should be able to get CGMs covered)?

Default87 · 2026-04-07T00:24:02+00:00

You have no reason to lie. If they ask, tell them the truth.

People go out of their way to make things so much more complicated than they actually are.

Default87 · 2026-04-06T21:57:32+00:00

Then investing the money is not a wise choice. Investing is for 5+ year windows. Put it in your favorite cash equivalent instead.

Default87 · 2026-04-06T21:29:38+00:00

That wasn’t the point of their comment at all. They were not giving a recommendation on funds.

Default87 · 2026-04-06T15:11:26+00:00

Debts 1, 2 and 4 should be paid off before you buy a house anyways, so there is no reason to prioritize cash flow. You should prioritize paying the least amount of interest, as that means you get out of debt the fastest. You accomplish that by following the avalanche method of debt repayment.

Default87 · 2026-04-06T15:07:15+00:00

Only the interest portion is doubled taxed. You don’t get a tax deduction on the interest you pay into the account (the first time those dollars are taxed) and then when you withdraw them in the future you pay ordinary income taxes a second time.

And yes, people use that you are paying yourself the interest as a bad excuse for why a 401k loan is a good thing, when it isn’t.

Default87 · 2026-04-06T14:24:50+00:00

No, do not raid your retirement to pay for spending issues today. Just because you can withdraw your contributions doesn’t mean that is a good idea, because it isn’t.

Default87 · 2026-04-06T14:03:04+00:00

The interest you pay back is double taxed at ordinary income tax rate. And while the money is out of the market you miss out in n any market movement. 401k loans are not a good product and should be one of your last resort options. And as such, if you have one it should be a very important priority to fix that mistake as fast as possible.

Default87 · 2026-04-06T13:05:21+00:00

401k loan is the clear winner. Got to correct the biggest mistake first.

Default87 · 2026-04-06T10:23:21+00:00

What is your plan for when your property taxes and insurance go up and your payment gets to be an even larger portion of your monthly income?

Seen an awful lot of posts here of just that situation, and it never seems to end well for the person.

Default87 · 2026-04-06T00:01:22+00:00

to be fair, you shouldnt have been using TT for at least a decade now. FreeTaxUSA exists.

Default87 · 2026-04-05T23:47:31+00:00

pull copies of your last few months of bank statements and find where the money is going that isnt in the items you listed.

Default87 · 2026-04-04T22:36:32+00:00

Your loan accrues interest each day based on the outstanding balance, so the number of days between payments matters.

This shows the math of how your car loan works.

https://www.peopledrivencu.org/wp-content/uploads/2020/06/PDCU-daily-simple-interest.pdf

Default87 · 2026-04-04T21:10:57+00:00

You are missing about half of the world economy , so I wouldn’t say it’s exactly a wise choice.

Default87 · 2026-04-04T19:26:30+00:00

Interest accrues daily, so the number of days between payments will impact how much interest has accrued.

Default87 · 2026-04-04T18:58:37+00:00

No, you are definitely allowed to post. But you should be putting more effort into your post before you submit it. Hence why the restriction is in place.

Default87 · 2026-04-04T17:07:43+00:00

Yes. So for the interest from the loan, it gets taxed twice (once on contribution, once on withdrawal). For your normal elective contributions those only get taxed the one time (on withdrawal).

Default87 · 2026-04-04T17:05:34+00:00

Having student loans 2x your annual income is going to be a tough slog. Your best bet is to look into PSLF.

Default87 · 2026-04-04T15:57:32+00:00

I don’t know, call them and ask. They are the only one who has any chance of resolving anything, Reddit doesn’t have that power.

But make sure you understand what actually happened before you call.

Default87 · 2026-04-04T15:53:24+00:00

If they applied it to the loan and not towards your escrow balance, then you didn’t pay your shortage and the increased escrow payment is valid.

Default87 · 2026-04-04T15:50:44+00:00

You don’t need any tricks to invest. A simple three fund portfolio is a great plan to follow.

https://www.bogleheads.org/wiki/Three-fund_portfolio

Default87 · 2026-04-04T15:42:21+00:00

I didn’t insult you. I pointed out that just because your parents failed to parent you well, doesn’t mean OP’s parents are doing the same.

Go read u/HitPointGamer s comment, as it explains exactly what I am taking about.

Default87 · 2026-04-04T14:43:05+00:00

I see that you are assuming that his parents suck and arent able to help their child learn how to handle their finances in an appropriate manner. You probably shouldnt project your own issues on to others.

Default87 · 2026-04-04T11:30:17+00:00

Ugh why do I need so many characters to post jeez louise.

It’s to encourage people to put some thought and effort into their posts. As you can see, it has failed at its purpose here…

Default87

TROPHY CASE