<prompt> Human: I am anticipating a law suit settlement in the near future of around 50k after my lawyer gets his cut. I am currently an undergrad in the pursuit of a PhD and really dont have any assets other than my 13 year old bucket of a car. I have two young children, and my fiance and I rent a small place for very cheap. I shouldnt have a problem finding employment after graduation because I will be able to practice immediately in the office I currently work in however that wont be for another six years. My fiance is pursuing a masters degree, so he has accumulated student loans as well. Since I have little experience dealing with large amounts of money I ask you this: based on our situation, what should I do with this money that would be most beneficial to myself and my family?EDIT: Yes, I see the side bar. However I was hoping for something more specific like which type of accounts would best suit my situation.  <response>: lock the money away in a 1-year certificate of deposit so you cant do something stupid with it. spend that year educating yourselfthere are good books on the sidebar of rinvesting 