Help Investing for a Beginner

[NA NA]

The Basics:

*Already have enough saved aside (Very, very, lucky financially, but somehow unlucky about everything else in my life) for 4yrs of college, with a year & a half under my belt already.

*(No College Expenses)

*Plan to Pursue a PhD in Psychology later in life (Not immediately out of school)

*Plan to Teach at the University part-time to offset grad-school expenses.

*Inheritance of $150,000

Down to the "Nitty Gritty":

5Yr CD at 2.25% (Could go up, too) of 150,000 = 167,860

OR... Riskier Investments... Stocks, Partial Business Ownership, etc.

Thank you for your help... 

Joe