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[quote=Anonymous]Congratulations!  Keep it up!   It's nice to have a safety net.   And as PP mentioned, there will likely be more uses for your pretty pile of money.

It sounds like you already have a checking and savings account.   Great.  Get the balance of that savings account to that 3-6 months of living expenses (maybe that's about $15k-25k for you?)

Once you have that, go to Vanguard.com.  Give a call to the number there and talk to a representative if that makes you more comfortable.  Open a retirement account (IRA), and a brokerage account.  Put $5,500 in the IRA in the fund called "Target Retirement 2045."  Keep contributing every year to that account and fund.  Put another $10,000 into something like the "life strategy moderate growth" fund.   Keep adding to your savings, and when the savings balance gets to $15,000 again, transfer another $10,000 into the Vanguard brokerage account. 
 
You will have access to the Vanguard brokerage account without a withdrawal penalty when you buy a car, house, pay for college, etc.  You will have penalty-free access to the IRA when you are 59 1/2, so don't dip into that until you are ready to retire, and even then it's best to wait until you are 70.

Enjoy watching your child grow, knowing that you will be able to support a college education, and that your baby won't be supporting you when you retire.  [/quote]

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