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Michaelos comments on How can I spend money to improve my life? - Less Wrong
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How are your savings for retirement?
If you have no retirement savings, you can set some up at an easy to use online brokerage: Your early twenties is a great time to start, managing your retirement account doesn't really have to take a large amount of time, and 50 dollars a day should cover initial expenditures.
Also, at 29, I personally enjoy fiddling around with my retirement account... although it took me a while to figure out the right settings for myself and I did have some initial panics when it was smaller, I wasn't as familiar with the pros and cons of various investment types, and one of my stocks had gone down quite a bit. Now that it is bigger and much more well diversified, it's more fun.
Yeah, this is a priority for me. My plan is to stick my money in a few mutual funds and forget about it for 40 years. Hopefully the economy will grow in that time :)
Don't forget to put some of it in a reserve fund that's invested conservatively and easily accessible, and ensure that you're covered in case of disability. Also, diversify between market sectors - an index fund is good and all, but the usual index fund is 100% US, and you want some international exposure.