<prompt> Human: Hey all, Im a 20 year old college student. Im blessed to have my parents paying for my school and rent so I have no regular major expenses. I have about 2000 Ive earned from my high school jobs in a savings account with Ally earning 1.25 APY along with about 600 in a checking account. Im working a minimum wage job 7.25 on campus and take home about 130 every two weeks. Should I be investing my savings, put it in a retirement account, or just let it sit in the Ally account?  <response>: You will need far more than 2000 when you move from college into your own place: damage and security deposits, emergency fund, down payment on a car or a car purchase, etc.Save it all in Ally. When you get to 20K, put additional savings into a ROTH IRA SP 500 index fund up the the lesser of your annual wages or 5500. 