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.$5M is not rich today. $5m is a lifetime of moderate income if you're really careful.The classic advice was that you could spend 4% of your net worth per year. Today, it's probably only 3%. Yields are lower.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.Any investment where they call you is lousy. If it was any good, it wouldn't have paid marketers.Avoid financial advisers who want you to trade a lot. Trading for individual investors is, overall, a lose.Don't buy a restaurant.