<prompt> Human: Hey guys. So as the title states, ive inherited over one million dollars. Ive lived pretty lower-ish middle class my entire life, and I spent the first 10 years or so of my life in the projects. Anyways, the point is im not used to having anywhere close to this much money. Basically I really really need some advice as to what to do, as I am pretty lost and stressed. I want to put the money in some good low risk investments that will yield me around 4 yearly returns, which I read online is what I should expect.Here are some complications though. I have no idea how to invest at all. My father set up a meeting with Chase bank tomorrow, but im skeptical of trusting some random chase employ from my hometown with my livelihood. Is Chase respectable? Do they look out for my self interest? Should I look at big investment firms in NYC or Philadelphia or something? Please give me some advice in regards to this. And although it seems plausible, I simply wont give money to Vanguard or online banks. Im skeptical of the online aspects of it, and there is absolutely 0 chance my father would be on board with me sending money to an online website. If Chase isnt good, what are some good reputable investment places I should go to?I plan on spending around 100k contributing for a home for my family. My father tells me it would be a good idea to invest another 200k and buy a house for myself now, as the real estate market should improve. Is this a good investment?I found out about this last Friday by the way, so it hasnt even been a week. Any advice would be really appreciated.EDIT: It would be cool if someone could reccomend me financial advisers financial adviser firms in the NYCNew Jersey metro area.Edit: I should also add that im currently at college. Its a public university and I should end up paying around 60k when its all said and done. Computer Science Major.Edit: I just want to say thank you to everyone who gave me some advice, I really appreciate it now. I have to go to sleep now as I have to get up early in the morning. Basically what Ive decided im going to do for the short-short term is schedule and appointment with Schwab, and Fidelity. Also convince my dad that Chase is simply after commission money. Im still going to contribute 100k into a new house for my father and siblings to live. I decided that Im not going to invest 200k in a house for myself as it seems unwise. I plan on talking it over with a financial adviser, and he will most likely confirm this. Overall I am in a much better place now, and I thank all of you for your advice. Thanks once again. Assistant: Is Chase respectable?For a checking account? Sure. For investments? Hell no. Chase employees will steer you towards high cost investments that make them money. And although it seems plausible, I simply wont give money to Vanguard or online banks. Please please do more research because you have no idea what youre talking about, no offense. Vanguard has been around since 1975, manages 2 TRILLION in assets, has 14,000 employees and pioneered the low cost index fund. Theyre one of the best places to put your money. Im skeptical of the online aspects of it, and there is absolutely 0 chance my father would be on board with me sending money to an online website. Is this your money or your fathers? You can take his advice and opinions under consideration, but you dont have to do what he wants. Also, any bank or brokerage is going to give you online account access in 2014. I seriously doubt you have a briefcase with 1 million dollars anyway, so your money is already electronic. The only benefit with Chase is that you can walk into a branch and one of their sales people can sell you some crappy investments. If you absolutely cannot do Vanguard AFTER EDUCATING YOURSELF, head to Fidelity or Schwab. Stay away from funds with load fees or high expense ratios. At Fidelity, look at their Spartan funds. I want to put the money in some good low risk investments that will yield me around 4 yearly returnsMost people in this sub assume the stock market not low risk investments will return 7 and then 4 after inflation. At your age, low risk investments are the last place you should be. You should be heavy in equities stocks and then have some bonds for balance. I would not put any of your money outside of a checkingsavings account for at least a month while you spend time on this sub and reading up on how investing works. My father tells me it would be a good idea to invest another 200k and buy a house for myself now, as the real estate market should improve. Is this a good investment?Do you want a house? Do you plan to live in the area youre in for at least 5 years? Do not think of the house you live in as an investment. It is a roof over your head, a place to throw parties, a place to put down roots. It is not an investment! General life tip: Do not tell people you have this money. There are lots of people who will try to take advantage of you when they learn you have this money. Some friends will expect you to cover drinks. Others will want to start a bar or restaurant. Others may straight up attempt to steal.Please do not buy a house for anyone for at least 6 months. You are young and wealthy - a dangerous combination when shopping for big ticket items.Human: First of all, I want to thank you so so much for your blunt and extensive advice. I really appreciate it.The way its looking, Schwab would be a good place to find a financial adviser? Tomorrow im going to explain to my dad about financial advisers and how those at banks like Chase are more worried with making a commission. To be honest, I have little interest in buying a house, and I REALLY do not want to live in my hometown after im done with college. Speaking purely financially. Would buying a house and not living in it be a good investment long term? Just want to add that id charge rentAlthough I can understand the people here telling me to go to Vanguard, I simply wouldnt be able to convince my dad. My family dynamics are kind of complicated, and I dont want to mess up our relationship. We come from a different country so its a different culture. So for now while im still young and under him, it looks like Schwab would be a great alternative. Would you agree?Also, the only people who know is my family and bestfriend, whom I trust.  <response>: Ive only gotten through a few of your replies so far, but almost all of them have been my dad. I know family can be very important, but youre an adult now. Where you got the inheritance from that your parents didnt even get 10 of what you got is maybe mistakenly a bit of a red flag to me. Wherever the inheritance came from, maybe they thought you would be more responsible with the money than just spending 300k right off the bat on houses? Either way, its your money now. While your dad may not be on board with online investing, really the only difference is they lack brick and mortar establishments raising their overhead and costing them more money and furthermore you, as they get their money from you. Theres a reason they have lower cost ratios in online investing. And no, buying a house is usually more expensive than renting if its going to be less than 5 years ie, college. Not to mention things such as closing costs and paying for realtors when you buysell if youre looking at it not as a living but investment standpoint. Sure you might miss out if theres a sudden boom in the housing market, but the same could be said for putting 200k into any other market that may skyrocket. Basically, I know your dads adviceapproval is important to you, but it is your money and you are an adult. If you dont want to buy a house, dont. I understand there are circumstances with siblings you want to give your parents 100k for a house soon, but maybe theyd be better off renting with you helping, or just getting a mortgage I dont know your history, maybe they already are working their absolute hardest to get you out of the projects and just cant afford a dime more. This is a huge opportunity to be receiving this much money so young. It can set you up for the rest of your life. Just dont get taken advantage of by anyone, family or an investor. Start with something entirely safe temporarily no fee, no chance at a loss like a CD as was recommended until you can really figure out what would be best for you. 