<prompt> Human: Just a bit of background, I am a college student who has it pretty easy college, food, housing is all paid for. I have no debt and up until pretty recently I had around 2500 in my bank account. Recently my grandfather passed away and I, along with my cousins recieved 60,000. Now I have no intention of spending this money for now, I have a summer job and that makes me enough money to live pretty well in college. My first question is will I get all the money or will it be taxed and second what should I do with the money. Can I invest it somewhere? Can I recieve interest on it? It seems like a waste to leave it sitting there for the next 3 years while I finish my education.  <response>: Financial Advisor here- You will likely have a tough time maybe impossible getting a money into a retirement account. There are IRA limits and you need earned income to contribute so given that you are a student that is likely a challenge.I absolutely agree with what many have posted. Take time to get educated get professional guidance if needed. Many on here will tell you DIY with the help of this sub and you ABSOLUTELY CAN DO IT YOURSELF, just comment to putting in the time to educating yourself before making a decision.Dont worry about the taxes, your will likely have none. The only exception being if you inherited the money in and IRA 401K account. In which case you will have RMDs required minimum distributions and be required to pay income tax on that money because your grandfather never did.The final bit of encouragement Ill leave you with is to separate your short-term and long-term moneypreferably within accounts but at least in your mind. Any money that may be used over the next 3-5 years, carhome purchase, life events should not be invested. There are many different instruments banking mostly available and they all pay crap right now. Just accept it, that money will not grow for you.I image that your grandfather would be very proud that you are looking to make good choices with your inheritance. Just do your best and never be afraid to ask for help. Professional or otherwise.For your long-term investments- I mentioned the challenges with getting some of this into a retirement account but dont let that stop you from investing. Just open a low cost, non-qualifed investment account. Invest in a global, stock focused portfolio and your future-self will thank you. Best Wishes. 