<prompt> Human: Hello. To start off, I am a long time lurker of PF, and for many reasons this is a throwaway. Within a week, I will be compensated approximately 500,000 tax-free post medical bills and lawyer fees from a medical incident that I endured. I am 20 years old and am seeking the advice from the people I have learned so much from already. Please bear with me.Many times I have viewed the sidebar and posts in this sub, read the information on them, and even reread them again and again. However, this is a much different scenario for me. I have known for a few weeks that this would be the outcome, and have been preparing myself. I have read The Bogleheads Guide to Investing in addition to other research about personal finance, and plan to read more. My mindset is clear about how I am going to approach this - I view this money not as something to spend, but to save and invest for future potential income.I have not told anyone other than my parents who obviously know and my 2 siblings and have laid out a plan over the past few weeks, and would like some input on it.First and foremost, I plan on following the golden rule for my age, and will continue to invest in my education. I will be graduating next year from a 4 year university. As for now, I will be placing a majority of the money in a 6 month CD until I am absolutely certain of what I am going to do.Future money allocation: 500k1. Pay off student debt upon graduation: 50k2. High-yield savings account safety net until I know I have a secured job: 50k3. Invest: 300k can go a lot more into detail about this, but want to keep post shortQuestions:1. Should I split up the money into more than 1 CD to make sure they are FDIC insured? Ex. Split at 200200100?2. What bank recommendations for the CDs or savings accounts do you recommend? I am thinking Schwab andor Ally for savings3. What would you do in this situation at this age?4. Any other personal or financial recommendations?Thank you for taking the time to read and consider my post. I am looking forward to your feedback and will be ready to provide any other information you need.Assistant: When I was your age I was really focused on friendships and it would have been easy for me to start giving things to my needy friends we were all needy, after all we were broke college students werent we? But really our lives were just temporarily uncomfortable, and we didnt need that much.I would make sure you keep your windfall on the down-low and come up with plans that work for you. From this post I think youre on the right track.Human: I absolutely agree with you. Although it may seem like a lot of money, I need to make sure I do this right, no shortcuts. I have gotten past the point where I feel like I need to tell even my closest of friends. I completely plan on keeping this information on the down-low. Thank you for your help!Assistant: If it somehow gets out or you kind of spill the beans, if they ask how much just give a lower number and say you put 99 of it into a long term savings account which you cant access for a while. No ones gonna really question it and it explains any extra cash you have.Human: I actually thought about saying just exactly that, good point!  <response>: Better yet, say you had to put it in a trust to avoid taxes. chances are, none of your friends know enough about tax law to call you out on it. 