<prompt> Human: Background: Father has been battling pancreatic cancer, successfully, for a few years and very recently took a turn for the worse. Was informed that I will be receiving a rather large life insurance check due to the circumstances and my dads great life planning. The amount is Un-taxable is this true? and it is right around 500k. I am 22 and have literally no idea what to do with this money. In last year of college so I plan on paying off my loans with it as soon as I graduate. Other then doing that I really dont have plans for using any of it. I figure placing it in some sort of account to grow is what id need to do or possibly invest into something?Not sure, hoping to get some mentoring on this. Me- Single, childless, 22, male. Texas. Perfect credit score. Another tidbit- I have 2 sisters who are also receiving the same amount, if we could do some sort of mega-joint bank account to gain mega-interest on the money would that work? is that a thing? is that smart?Thanks, reddit!did a throwaway because with my main username you could definitely do some google-fu and find out who I am  <response>: I would not do any joint account. What if one person runs away with the money? And your rates wont be much higher with 1.5M vs 500k.Other details are in the wiki 