First, there's some pretty good advice already here. I'm not really adding much, but I'm hoping I can simplify some things. Don't freak out. There's nothing to

First, there's some pretty good advice already here. I'm not really adding much, but I'm hoping I can simplify some things. Don't freak out. There's nothing to freak out about. You have a windfall, and unless the taxes are wrong, you can live the rest of your life on the interest. The simplest thing to put the money in an index stock market index fund (I have very high trust in Vanguard, but there are lots of low cost index funds in most brokerages). You can realistically live off of a 3% draw down for the rest of you and your wife's lives, and never have to worry about the capital. 3% is very conservative, and many consider 4% to have a very good chance of continuing to grow your capital. This means, that your family now has a nearly guaranteed income of $240k, which will more or less grow with inflation. And is more than enough to live on in roughly 95% of the world. You mention everything is paid for, and no debt. This is good, if you're not including your mortage in this, it's definitely a good idea to pay off your mortgage even if it's below 4% simply because you reduce your risk profile. If you want to get fancy, and reduce your risk profile even more, at the cost of income, it's a good idea to also hold an index bond fund, somewhere around 30% of your portfolio. You'll want to decide the percentage up front, and rebalance your portfolio at least every 2 years. More often is better, but I've never run the math on how frequent will minimize your tax burden. It's also a good idea to keep cash reserves of somewhere between 1-3 years living expenses split amongst multiple banks. This is mostly for catastrophic risk prevention, and will prevent you from selling index funds if there's another black monday, and prices are at their lowest. If this is all you do with your money, you will never have to worry financially ever again. Just continue to live within your means, and don't try to show off your wealth, or keep up with the Joneses. This means you no longer need to work for money again, and can be very liberating. Now you can take a job that normally wouldn't pay enough, or get a PhD in some field that will never make sense financially. All of my favorite school teachers in high school were mostly financially independent, which meant that they didn't have to tow the line, and could contradict the administration if they felt like it. It does sound like you may have to worry about motivation since you will no longer have any extrinsic need to work for money. I'm not sure how to help you here. I have so many things I'd do if I didn't have to work for a living (ironically many of them have much higher earning potential than my current career, gotta love local maximas...). You may also want to lurk in the subreddits related to FIRE (financially independent retire early), the content isn't as pertinent to you, since you aren't striving anymore to retire early, but you'll find people who are very economically conscious, and want to not have to be wage slaves anymore.