It is always a good idea to have up to 6months of living expenses in a liquid account that can be accessed within thirty days without penalty or hassle. Savings account provides a low rate of return, but you have quick access to your cash.
Traditional "Self-Directed" IRA
This would be a good place to start and there are many benefits to having an IRA. The yearly contributions you make to an IRA are tax deductible against your income. The deduction alone is a good way to save money on your taxes and a great way to discipline yourself to put money aside for the future.
ROTH IRA
Even better than a traditional IRA, is the ROTH IRA. You should also open up a ROTH IRA. Your contributions are with after tax dollars and when you are eligible to make withdrawals, your profits are tax free! For example if you invested $20,000 and you made $1 million profit, that $1 million can be pulled out tax free when you're eligible.
Rental Property
Rental property will always be a good idea. Yes you will be liable for repairs but overall and long term this is a GREAT way to build wealth.
You can get started on a variety of strategies with just $5,000 or so. Do some research on different strategies (like the additional passive income strategies shown below) and pick one that suits your personality No Need to pump all $100,000 into one strategy.
Consider also:
Selling Stock options - I would not suggest buying options if you don't know what you are doing
Flipping Websites - buy websites, fix em up then sell for a profit
Tax Lien investing - Great way to earn up 50% per year on your money.
Tax Deed Investing - buy houses at heavily discounted prices (pennies on the dollar in MOST cases)
Flipping properties - buy houses, fix them up, then sell them for a profit.
Do NOT get a financial planner - They seem to be out for their own interests and whatever they tell you, you can learn for free.
Do NOT buy Mutual Funds - Mutual fund managers typically lag the market every year so I would not recommend that. There are multiple studies that show that most mutual fund managers don't consistently beat the market.
Fund Managers get paid millions of dollars and are no better at picking stocks that you or me. It is a known fact that no one can predict what the stock market will do tomorrow, no one.
