Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

New to investing — I have $20,000 cash saved, what should I do with it?
@mbhunter and @JoeTaxpayer have given good advice. Were I in your situation, the only thing I might do differently is put whatever amount of cash not needed for emergencies in a money market fund with check-writing privileges and/or a debit card.  The rate on the account has at least some chance of preserving the value of your principal, and it will be easier to put your money into investments as soon as you're ready.  This sort of account is offered by any number of brokerages and financial companies, so pick one you trust and start there.