Entrepreneur

Maybe take out enough for a down payment on a house. Leave the rest - you're already on a one-way ticket to your life changing.

Buy Gme!

Buying a house as primary resident is a liability not an asset. What you have at the moment is an asset as it’s making you money.

lol double in 7 years? I highly doubt the management company is averaging MORE than 11% yearly because that's what you need to double your money in 7 years.

Ask for PROOF, I'm guessing the financial advisor is the one who has been managing the money until now. They are probably telling you some nice number hoping you and your family keep your money with them, so they can keep collecting their management fee.
Going of your post, you don't seem like a business minded person, so I wouldn't jump in and try to start a business out of thin air. Look at things in your day to day life that annoy you.
Do you think you could find a solution for it?
Do you think other people share this same nuisance?
Do you think the nuisance is enough of problem that people would be willing to pay for your solution?

If yes on all 3, you have an idea that might turn into a business.

If I were you, I'd take some money to get out of the financial shitstorm and to pay inheritance tax. Pay a service to rewrite your resume and start applying to higher paying jobs.
How old are you?
Do you have a degree if yes in what?
Do you have certain interests?

Lots of good advice here. My advice is mostly a summary of what's been said and reading your comments.

• save as much of that inheritance as you can. Doubling every 7 years with an S&P tracker is realistic.
• don't buy a business.
• minimize your outgoings.
• if you're going to spend some of it, spend it on upskilling yourself. Take an inexpensive course in something that interests you.
• Sounds like you might also want to spend some money on therapy or coaching and that would be ok but again don't overdo it.
• if you want a career and you have the academics for it, look into consulting as you get to experience a wide variety of industries and project types.
• nothing you pick now is permanent. The most interesting and happy people I know now have had multiple careers. Pick something that is interesting to you and throw yourself into it.

Good luck.

Buy an RV and live frugal. That money can/will last if managed properly.

I don't trust the passive income gurus personally, as most of the advice I've seen either amounts to a second job to be lucrative (software, selling goods) or doesn't really work for the majority who try a gimmick after the lucky few have already exploited it.

Given your post, I assume you don't actually know what you're real interests are yet. I'd take as little of the money as possible and experiment. You don't need high-end equipment to mess with hardware, software, trying out being a personality, whatever. You can typically get by on trash hardware, and learn more.

Tldr, I'd definitely think about school, but I'd want to experiment to figure out what my interests are first. Money can help you float along while you figure it out.

Being able to eliminate debt and still have a substantial amount of savings already in place is a double gift of your inheritance. Get back in the black and don't touch the rest, while you get your budget back on track!

Pull it out and convert to 5 year jumbo CD’s at $100K each.

Pay off your debt, go work a job you enjoy. Live in your shitty apartment and know that you really don't have anything to worry about money ever again.

Pay your bills .. get a decent cash car and start turo to bring in extra money , let that build and scale turo

I haven't read through any of the postcode so I'm sorry if I've doubled up on any information do anything or I could suggest you is to be very very smart I'm not trying to be smart...I'm 54 now gone through breast cancer for past 9 years, was married for 24 nearly 25 years together 26, I have one child who is my miracle as was told many years ago no children for me.... My hubby made me homeless for the last 4 plus years I've just found a stable place now.... There is so much more story about me and what I'm trying to say is three to four times in my life I've had a substantial amount of money I had aTPD claim which seriously if it was the ex he works have been paid 4 times the amount I got anyways I fully understand your situation and it sucks.. Do you have any RELATIVES Mum Dad etc? I was going to suggest move in with them for a while look at your transport situation and DEADSET if you don't need a car do not buy one yet wait till you are in front ... Now I've been around this IM SPACE FOR A LONG TIME I'M NOT GOING TO POST ANYTHING HERE BUT I HAVE A COUPLE OF THINGS I THINK YOU SHOULD REALLY TAKE A LOOK AT.... THESE ARE VERY VERY WELL KNOWN PEOPLE AND people these days talk passive income BLAH BLAH BLAH well no joke one program is pure Passive now I also know that you are sitting there thinking this person meaning me is so full of shit and is just drumming business..... Ah no I have lost thousands and thousands of dollars and if I can help one person not make the mistakes I did and to be given names of trustworthy people in the internet marketing space that will pass since 2014 and previously I've been trying to figure out who is who in the zoo and who to trust so we're pretty good idea there's a lot of shit out there at the moment YouTube converter for telling you how to make thousands of dollars a week and do fuck all work sorry doesn't work people will sell your courses e-com things this that and all the rest of our for you to buy all this shit for them to hold possibly the most important pieces of the puzzle and you still sitting there wondering how to put it all the fucking together bring their done that I've probably got about 400 program no joke so I've streamlined everything this year I've taken what interests me and it's got to really if you're not interested in internet marketing and say for instance you know selling a product business then you're not going to make money and it's going to shine through in the whole conversation and everything that you do about it you've got a piece pretty patient about what you so it doesn't mean it has to be the bill and angle I mean you can find something that you can learn to life story is something that you know start a bit of interest so that you get excited about too much on the internet these days AI is taking over a storm people just see here and I always can't do all your weight for you will get that motivation and it is the case and it's very programming into it and ask it and prompt it otherwise you're not going to answer I'm not going to say anything of what I've got that I've not yet been able to sign up to as we have just gone major bushfires where I live and I had a meeting with one fellow on the Monday the Tuesday fighting for our lives Friday my head was way too fucked up to even think about business and talk I had another meeting... But I have one this Thursday.....I don't know how to DM here but it would be good for you to come listen STRAIGHT FROM the horses mouth and when I talk to you I'll tell you that others and I could get hold of that fellow have a chat with him etc... No pushing I'm not trying to push....I just feel that you take well not feel....I BLOODY WELL KNOW THAT OF YOU TAKE THE CORRECT STEPS AND HELP FROM THE PEOPLE WHO HAVE BEEN THERE DONE THAT.... Then you will not only save TIME AND HEADACHES AND MONEY BUT YOU WILL BE IN THE PROFIT PRETTY MUCH FROM THE GET GO...THESE PEOPLE I KNOW A PURE PROFESSIONALS ONE FELLOW IS A FORBES 500 LEAST MEMBER THE OTHER FILLER IS A SELF-MADE BUSINESSMAN FROM ENGLAND WHO DEVISED A SAS PRODUCT TO STREAMLINE THE INSURANCE CLAIM PRODUCTS IN ENGLAND HE ENDED UP SELLING HIS BUSINESS FOR OVER 200 MILLION DOLLARS UNDER CLOSED AMOUNT IS OVER TO 200 MILLION DOLLARS AT THE AGE OF 30 HE'S JUST ON ANOTHER PROGRAM SO THESE ARE PEOPLE THAT YOU WANT TO KNOW ME AND THEN YOU'VE GOT THE RIGHT YOU KNOW WHICH EVERYBODY WILL KNOW HERE THE DRANK HOWDOWN HERE RUN SOME VERY GOOD ANOTHER THING TOO IS YOU'VE GOT TO LEARN JUST GOT TO LEARN TO FIND SOMETHING AND START TO LEARN NO MATTER WHAT IT IS UNLESS YOU KNOW ANYTHING ABOUT IT STEER CLEARLY FROM THE CRYPTO UNTIL YOU HAVE SOMEBODY ANY TRADING FOR THAT MATTER SORRY JUST TRYING VERY GOOD BUT IT'S SOMETHING THAT YOU KNOW IF YOU WANT TO BE PATIENT ABOUT IT AND YOU'VE GOT IT SMART ABOUT IT AND YOU'VE GOT AND YOU'VE GOT TO FIND YOU'VE GOT TO LEARN HOW TO GO IN MAKING MILLIONS SO THAT'S A PRETTY LONG STORY AND I DON'T KNOW IF IT'S ALL GONNA MAKE SENSE AT ALL BECAUSE THIS IS SPEECH TO TEXT BECAUSE I GET NUMB HANDS DM ME I DON'T KNOW HOW TO DO IT HERE IF YOU CAN'T DO IT I'LL HAVE A LOOK AND I'LL DMU AS WELL IF YOU CAN'T DO IT I'LL JUST SEND MY I'LL JUST GIVE YOU MY EMAIL ADDRESS WHICH IS ONE THAT YOU KNOW IT DOESN'T MATTER PEOPLE WANT TO TRY AND SPEND THE FUCK OUT OF ME BECAUSE I'LL JUST GET ANOTHER ONE AND THEN WHEN I CAN CONTACT YOU KNOW AND TALK TO YOU THEN HERE WE'LL GO FROM THERE I'LL GIVE YOU MY NUMBER OR WHATEVER AS WELL ANYWAY I'LL LEAVE THAT WE HEAR AND OF COURSE YOU'RE GONNA HAVE 500 MILLION POSTS THAT ARE GOING TO BE TELLING YOU A LOT OF STUFF YOU KNOW ANYONE SAYS YES DO IT BUT THESE THINGS CHANGES THAT ARE SET IT UP FROM BLACK FRIDAY ON RAMBLING AGAIN SORRY JUST SO YOU MIGHT FEEL LIKE YOU AND JUST BE CAREFUL THINGS THAT COME TO YOUR EMAIL LIKE LOOK AT THIS PROGRAM FOR THIS YOU KNOW AS MUCH AS I LOVE AND IT ENDS UP IF YOU WANT TO GO THROUGH AND THE ENTIRE FUNNELS ABOUT 13 14 AS LONG AS ANXIETY WRITING PROCESS SORRY JUST I NEVER GIVE YOU INFORMATION ANYWAY SHE'S LIKE AND GOOD LUCK WITH YOU

SO SORRY IF SOME OF THIS DOESN'T MAKE SENSE SPEECH TO TEXT AND MY PHONE JUST WRITES WHAT IT WANTS SOMETIMES AND THEN I FORGET TO CHECK IT

Just a question to anyone who may be reading(and not advice to OP).

I've heard that investing in an index fund is advised for people who don't have a lot of experience investing in single stocks and that financial advisors are a bad idea because of fees eating away at compound returns.

Why aren't more people telling this guy to put his money into a low-cost index fund and to fire the financial advisor- especially if the market return is around 7% over the long term(which doubles the rate of return around every 7 years as well)? His risk would be lowered by investing in the market as a whole rather than in specific financial instruments while also ensuring pretty much the same return over the long term in the principal, not counting any dividends.

Take out the bare minimum to improve your life, if any at all. The more you Save on there, there better. Compound interest is like a snowball rolling down the Mountain.

Rent a small place, buy a bike or small car depending on what you need to get to work. Maybe find a hobby or skill you can learn as a side-gig.

Keep living below your means.

Just based on the fact that you said you’d like to make money with business PASSIVELY (with all caps), I would strongly suggest not going into business ever.

Def take out as little of that money as you can out of the market. It’s set to go mega bullish soon, into about 2026, you’ll make a killing in the markets if you wait.

I would take half and keep the rest tied up and pretend you don’t have it. Then take a forth of the half of the half you kept and put it in a high yield savings account and pretend you don’t have that as well. I prefer SoFi but there are plenty others. As for making money online or at home follow me at Cadiee03 on TikTok starting next week I’m going to document my path to making that 6 figure income that you can achieve from learning these high income skills. Let me be your Guinea pig so you don’t waste your time and money

Congrats on your windfall! Firstly, I think you’ve done better than most by already speaking with a financial advisor. I was in your position a few years ago and it was absolutely daunting to me.

If you are interested in a passive income, I’d recommend learning how to invest in stocks, which is what I’ve done. With your current set up, you’ll be making roughly 10% a year. Historically, that is close to the S&P 500 annual average and it’s a fine return. However, there is an opportunity cost in that you can be making more than 10% a year. I would recommend you read ‘One up on Wall Street’ by Peter Lynch- it helped me grow my understanding of how to manage my portfolio and have much higher returns. There is always risk involved, so you have to consider what works for you- I completely understand the need to sort more pressing parts of your life.

If you are under 40 spend 30 k for havng new skill, preferrably in tech, put rest in dividend stocks

Pay down all your debts, invest the rest the in stable shit, and then invest in yourself.

Seriously, uplevel yourself. You don’t know how to manage money, business, or your life really from this post.

Get good enough to be a good steward of the capital