<prompt> Human: Folks,I recently got a job offer after working working for 2 years in academia. Now I want to chart out a well thought out financial plan, however, I have no experience in investing. I met a Financial Planner from Northwest Mutual but I wasnt sure his advice was useful as it was mostly long term Cash Value life insurance etc. investments. Anyhow here is my current situation:Debt: 64k student loans at 6.5 interest rateCash: 45k bonus and other savingsShould I use the entire cash amount I have to pay off most of the student debt. I am apprehensive to do that for 2 reasons:1 For the first 12 months, if things did not go as planned, I might have to pay back a large chunk of my bonus back to my employer. While I hope this does not happen, I would like to plan for worst case.2 There might be ways that I could keep the cash liquid enough, yet earn a decent interest rate at least greater than 6.5. Perhaps Certificates of Deposits, Mutual Funds or other instruments? When I say liquid, I dont mind locking it down for 12 months.Do you have any advice on what I should do? Any recommendations on banks or companies? I feel competent to understand a particular financial scheme, however, given the myriad ways I feel a bit overwhelmed.Really appreciate the help folks!  <response>: Never buy whole life insurance. If you have dependents, term life insurance is always better and cheaper.CDs will not get you anywhere close to 6.5. Theres no investment vehicle that would pay you more than 6.5 without some risk. Ally Bank has decent interest. I use an Ally savings account to keep my emergency fund at a .95 interest. If I were you, I would put in a savings account at least 100 of the bonus that I would have to pay back if things dont work out at work. Use that also as an emergency fund. I personally think 6.5 at 64k is manageable with a 50k salary. Theres no hair on fire hurry to pay it right away. Plus, you can always pay more principle if you get another bonus or extra income once you start working. 64k amortized at 1000 monthly payments will take about 79 payments and you will pay about 15k in interest over 7 years. The rest of your cash, you should open up a Roth IRA with Vanguard and put it in an index fund and max out this years at 5500. The rest you can either put in another taxable Vanguard account and buy more index funds. preferably admiral shares if you can swing it. 10k minimum like VTSAX Or you can dump the leftovers into your debt repayment. Then once I start getting a paycheck, I can then adjust how much more I can pay back the debt. 