Years ago, I used to save up my money in cash. I was raised by financial illiterates, my mom is in debt and my grandma has filed for bankruptcy has never even checked her credit score before. I didn’t know any better back then, I didn’t trust banks, and they had burned me before by letting my gambling addict ex withdraw money out of my personal account and I was so afraid of that again so I kept the money secretly in a briefcase.
I saved up $17k cash from babysitting, freelance graphic design work, odd jobs, & as a personal assistant. Then, in October 2018, I misplaced the case. I looked everywhere and had assumed it got stolen from my home, since that amount of money can make people do crazy things.
After I lost my money, I was financially depressed for a while. I barely spent money on anything not even food (went down to 75 lbs). I have since recovered and found empowerment through financial education. I have a credit card and a 770 credit score. I still don’t have a proper job, still do design and babysit for cash. I wasn’t making enough money to have to file taxes each year (I think), but this year I filed $2000 claiming “hobby income”.
Anyway, I just found the case. I feel so stupid but also happy. I want to invest my money (I’m thinking of using the Fidelity Go roboadvisor), but I’m worried if I deposit all that money all at once when I haven’t even had a proper job in years, that it’ll set off red flags and the IRS will think it’s stolen or won from illegal gambling or something. Is this a risk? What should I do?
Submitted July 21, 2020 at 10:19PM by horrr0r https://ift.tt/3hmUC6c
