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Thank you for all that replied. I have some good options and research to do based on your advice.

Thank you for the replies. No, we don't have any other funds saved (or any investments) for retirement. I have looked at what we would get per month if we both retired at the age of 65 and we will have no issue getting by on what we will receive. It'll actually be slightly more than our monthly income now. We have pretty much always lived on a shoestring budget. Probably not the wisest move to use the money to travel. But we've never had the opportunity to travel. So I'm weighing how much would 30k make a difference to our quality of living or using it to see and experience something we wouldn't be able to otherwise. From the replies, the 5k for emergencies would be best in a high yield savings account? If we weren't going to travel until a...

I recently received a 35k inheritance. 5k would be for emergencies. 30k would be for travel. A little background information. I am 57 and my wife is 60. We would both probably retire at the age of 65. We've never made a large annual salary, an average of 30-40k combined. We are used to living on a shoestring budget and we do not have any debt. I'm reading "The Bogleheads Guide to Investing" and watched some videos linked to this site. These resources have made it easier to understand investing, but it's still a lot of information and doesn't all address our specific goals. We're not afraid to live frugally. We've never had the income to travel. Just from what I've learned, I know I don't want the money sitting in my bank savings a...