<prompt> Human: Hello all! Thank you kindly for your advice.This is a throwaway account.I am a 40 year old single mom with a toddler living in the northeastern part of the a U.S., in a suburb of a major city. Im currently living with my parents who pay all food, medical, and living expenses for myself and my child. I have no expenses currently nor do I have any debt. I do not recieve child support nor do I plan on seeking it. My assets are: 20,000 in a checking account, 10,000 in a rollover IRA, and 1000 in a Schwab account that isnt invested in any stocks currently. I have no income at the moment but I am starting to work part time as an independent contractor.I can stay at my parents house as long as I need to and continue to have my expenses covered. I know Im quite lucky to have such a supportive family. I miss having my own apartment but my childs care and well-being is more important to me than anything.So my question for you all is how can I make the most of my situation financially? I know practically nothing regarding trading but I want to feel more confident with it. Should I invest any of my 20k in index funds? What is my best course of action financially to grow my assets and prepare for my childs future?Thank you kindly!  <response>: I do not recieve child support nor do I plan on seeking it.What if there is a medical emergency with toddler? Daycare? Sports? 21 years of a lot of expenses there - dad should share the responsibility of costs... Otherwise, only two suggestions would be a comprehensive budget - or and read the wikis - links on right sidebar --- Start with this one : 