SteveWallz, $20K may seem like a lot of money to you, but it’s really very little. I gather you’re recently married and your wife is bringing home a paycheck. IY”H, you’ll have children soon. What will happen to your wife’s income? At the very least, she’ll have to take off several weeks from work. When and if she goes back to work, you’ll presumably have to pay for childcare.
You need to have safe liquid assets in case of emergencies. If I were you, I’d put the vast majority (90% or so) of that $20K in the bank (where you’ll get very little interest), and the rest in an S&P 500 index fund.