<prompt> Human: I would like advice as to what I should do with this fairly big sum of money I have sitting in my savings. I have been reluctant to do anything with it as I only make about 2k a month, pretty much living paycheck to paycheck and its comforting to have that money there if I ever needed it. Assistant: What country do you live in? If Canada, put most of it into a Tax Free Savings Account. Then divide it up inside your TFSA, some can be guaranteed interest, the rest you can invest in mutual funds or stocks use caution. In a TFSA all your gains are tax sheltered to a point but with this much youre not likely to reach the limits. Even in a TFSA that money can still be depended on as an emergency fund, its just working for you. Be sure not to make too many withdrawalsdeposits per year because that will eat up your 5k annual contribution limit. That limit wont apply on your 25 because you have 5kyear of room dating back to 2008. I would also take some maybe 5k of it out and buy RRSPs. That way youll get some money back on your next tax return. If you are low income 40k year this is a less advantageous choice because you really dont get taxed that much. If you arent Canadian... _ツ_ , move to Canada? We need more humans up here. Human: Thank you for you in depth reply. I guess I need to move to Canada. Sadly Im American...  <response>: Dont be sad your American , your lucky. My advice is to keep the money safe and continue to try to get a better job. Keep that money for a rainy day. Pay yourself to get an upper leg to help you get on the right path to a higher paying job , whatever that is. College, reasonable car, whatever 