If you are in debt: Stop reading, payback your debt and come back.
Working Capital: money in your checking account. keep this as low as possible
Liquid Savings: high-interest savings account you can find
Emergency Fund: high-interest savings account or very low risk porfolio. I fold my emergency fund into the liquid savings because in emergency you need cash immediately
High Risk, High Reward [Medium Term]: stocks, mutual funds, diversifed portfolio (Actively maintain this but only keep it as high as once a month or once every quarter)
Low Risk, Low Reward [Long Term]: index funds, ETFs, robo investments apps (Note: Only do this if you have access to excess capital after your 401K or IRA)
Low Risk, High Reward [Medium Term]: ESPP stock program of public company that’s doing well
Loonshots: very early stage startup equity, angel investments, business ventures
Retirement: 401K, IRAs
Real Estate