- Do not spend a penny of it for the moment; you are incredibly lucky, but not so rich that you can afford to spend a big chunk of this principal on reckless things if you want to always feel financially secure - if kept together and put to work, this amount of money has the potential to mean you will be rich your whole live, but if you dole out some of the principal on stupid impulsive purchases early on, you will have less money working for you and that has almost incalculable consequences over the long term.
- Get recommendations of several good financial advisors from mature people you trust.
- Interview each of them and pick the one you like.
- Check references on that one.
- If they check out, sit down with them to discuss your long term goals and tolerance for risk.
- Once you are on the same page on goals and risk come up with a good strategy for allocating this capital into different buckets of investments - the importance of allocation in investment strategy cannot be overstated.
- Count your blessings.
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