Ask HN: What did you do when you suddenly got rich?
Most people who get a lot of money all at once blow through it in 7 years. There are many broke lottery winners and NFL players.<p>$5M is not rich today. $5m is a lifetime of moderate income if you're really careful.<p>The classic advice was that you could spend 4% of your net worth per year. Today, it's probably only 3%. Yields are lower.<p>You don't have to do anything immediately. You can park it in T-bills, brokered CDs up to the FDIC limit, and big index funds.<p>Any investment where they call you is lousy. If it was any good, it wouldn't have paid marketers.<p>Avoid financial advisers who want you to trade a lot. Trading for individual investors is, overall, a lose.<p>Don't buy a restaurant.