<prompt> Human: A family member recently passed away and I was the only beneficiary so I received everything. Ive received about 1 mil, a house in another city and a few cars. Ive grown up poor my whole life, living on about 15k a year so this is very overwhelming. Im currently in university and I have no idea what to do with the money or what to do with the housevehiclesI dont even have my drivers license yet haha. Can anyone point me in the right direction on what I should do with everything?  <response>: If you invest the money well, and wanted to live off of it for the rest of your life, you could start at about 3.5 of the amount, and spend that adjusted for inflation each year. That means that 1 million is worth about 35,000 per year. The problem is that 1 million sounds like so, so much more than that, so people go oh ok, Ill spend like 100k of that per year, and like 250k upfront to buy random people some stuff. Its a lot - you have been handed the ability to take every calculated risk that you can. Do you want to leave your job for a better one? Thats a risk you can take. Do you want to take some more time in school to get both a masters degree in engineering and a masters in finance? You have that option available to you now. Do not get into the mindset that you never need to work - because 35k per year is a lot, but not a ton. Regarding the house, sell it. I assume its big. I assume you dont want to live there. Just get rid of it, and invest your proceeds well. That might bring you to 1.1 million or 1.5 million or whatever. Regarding the cars, sell them. Youre young. You need one car, maximum. Your car should be no more than about 10k-15k in value. If one of those cars fits the bill, then keep one only if you need a car. If you use public transit, still sell it. Invest the proceeds. Regarding how to invest, here you go If you have 1.5 million, then you have 1.5 million x 3.5 52.5k of income per year. Thats what the money represents. If I were you, I would ignore all of that, and try to live off what you can personally generate. Keep in mind that investing in education that has high returns, i.e. typically STEM fields, will get you a return much, much greater than investing the money in the markets will. Invest in your human capital. Im sorry that you lost a family member, but I envy your current financial position. I earn a lot of income for someone my age, but I want to get to the point where my annual spending is less than 3.5 of my net worth. Then I want to grow my net worth, and set my budget off that amount.The biggest thing for you to remember is that money that you currently have is not for spending. It is for investing. You then spend what your money earns, in excess of inflation - which is about 3.5 of whatever you have invested. 