<prompt> Human: My grandfather passed away a few years ago and last week I found out I was a 30 benefit of both of his life insurance policies, but I had to be 18 to receive the money combined 30k. I turned 18 last week.I have no debt, a good car, Im going to a community college so I dont have student loans, Im living at home with my dad, I dont have any bills, and I have a part time job. I set up an appointment with my bank to talk about what to do with the life insurance money but I wanted your opinions as well. I am completely clueless what I should do with the money.  <response>: Live as if you never received this money. 30k in the grand scheme of things is not that much on its own. What makes it valuable to you in particular is how young you are.x200B;Take a look at the windfalls section of the sub. Thatll give you some really good guidelines for the money. x200B;But, more specific to you - if you take 20k of that money and just stick it in an index fund google this if you like, or Im sure you can find loads of info on them here on the rpersonalfinance and leave it there until you hit retirement age of 65 itll be worth half a million dollars all on its own, assuming a 7 rate of return maybe an optimistic prediction, but helps illustrate my point. Half a million dollars is more than most people have to retire and its sitting here on a silver platter for you. All you have to do is not spend it.x200B;Good luck! This is an amazing opportunity! Use your youth to your advantage. 