<prompt> Human: Hey all! Im a junior in college currently and when I turn 21 in ten days my parents are removing money from a custodial account to give me full control over, and I really am unsure what to do with it.I am very blessed that my grandfather was a successful businessman and able to set aside money for his grandchildren to go to college. Fortunately, I was able to get a full tuition scholarship, so most of that money has not been spent besides what I need for rentbooksfood each month. Because there is money left over, my parents are giving me full access to it as soon as my birthday rolls around.Right now, there is roughly 90k in the account. Rent is a racket, so for one more year Ill be living off of around 1200 a month. Likely, by the time I graduate, Ill have 70-75k to work with and Id like to get a jump on investingsaving it.I think the only tenet that is not negotiable is that Im going to set aside 10k right off the bat in an emergency savings fund, as Ive read on this sub and in other places is good to do. I have no debt, no pressing need for a new car or anything like that, and am looking for advice on what to do with the rest of the 60k. Ill probably put 5k to the side for a vacation or something to enjoy. With the rest, do I start a retirement fund? What kind? How do I invest the other money? Is it a good idea to invest most of it, or is there something else I should consider doing? Any and all advice would be appreciated! I am fortunate to be in such a position and want to make sure I do right by my grandfather and my family with this.  <response>: With the rest, do I start a retirement fund? What kind? How do I invest the other money? If you are working and earn at least 5500 per year, you can contribute up to 5500 per year to an IRA individual retirement account and invest that money however you like. Id recommend opening your account with Fidelity or Vanguard and investing your money in index funds, or perhaps a target date retirement fund. You can invest the rest in a regular brokerage account. Id again recommend Fidelity or Vanguard because they offer many different investment options that have very low expense ratios and no unnecessary fees. Is it a good idea to invest most of it, or is there something else I should consider doing?I think investing the money is a good plan. 