<prompt> Human: My entire family has always had problem with debt. I wouldnt say poor, but most of them have owed the IRS money for a major portion of my life. I never received any money advice, but I did a lot of learning from their mistakes.That being said, I know nothing about planning for the future. I also tend to spend money if I have it.My wifes family is just as bad with spending money as soon as the get it, but they are not in debt. They are just always broke. So a bit better.I am 22. I have no debt. I paid off a loan of 15k for a car at the beginning of the year. I have a decent job making 50k.We are planning on purchasing a house at the end of the year.I have a budget that I try to stick to mostly, but I am in debt to myself about 1000 my over spending on my personal spending category....---Now here is why I am posting. My wife and I are about to come into, lets call it an early unexpected inheritance, of the low 7 figures.I am lost. I have no earthly idea what to do. I am afraid it will screw us up instead of help us financially. I dont know anything about investing, or anyone who does. I am somewhat happy, but I am mostly freaking out.How do I even start? Do I buy the house outright? Do I get that new couch and bed we have been saving for? Do I lock it all away and dont touch it?No one knows about this except my wife and her parents. Her parents will also be getting lots of money.I am lost. I have no guidance, and frankly I dont even know if this is the place to post this.I have been sitting on this information for a week and I am just scared. My wife is happy and excited and that is freaking me out even more.Help?EDIT:I have received a lot of advice and tips. One consistent one is 6-month CDs to start out while i make a plan for it. That seems like solid safe advice and a step I plan on taking. That should give me enough time to plan for the future and catch up on a lot of reading.Assistant: Most important thing: tell no one for a while. You and your wife have to keep this close to your respective chests for a while. Please make sure she understands this.Second most important thing: do not give anyone control of the money.To start with, put it into several bank accounts due to the FDIC limit, and dont adjust your life for a few months. Lock it up in 6-month CDs or something if you can. Yes, the interest in those accounts sucks. The point is to keep you from spending it willy nilly. Your goal should be to live the life you want, not the life you imagine millionaires living. Thats very important. The only exception to putting it all away: immediately retire any debt. Pay off the car and any personal debt.This is a life-altering event. It can lead you to financial independence - literally, the lack of a _need_ to work for a paycheck, enabling you to do what you want with your life; a meaningful career, more time with your family, and so on.It could also lead you to ruin. Before you tell anyone else about the money, read up on why so many sports stars and lottery winners are broke shortly after their money comes in. Relatives you didnt know you had will ask you for a loan that they dont intend to pay back. Many spend on a ton of things, not realizing that the money is finite.Come up with a reasonable plan for the money. My advice, figure out which fraction you want to use to sustain you long-term. If you get an investment advisor, ensure they have a _legal, fiduciary duty to you_. That is, they are legally required to act in your best interest as opposed to just making themselves the biggest commissions. Dont use a family member for this. Get the fiduciary duty guarantee in writing. if you are going to invest a large fraction of this, Im going to suggest Vanguard. If you have over 500,000 there, theyll give you an annual financial plan for free - and since they are not-for-profit and their CFPs dont work on commission, you dont have to worry about a conflict of interestIn short, this money can guarantee that you have a great life. Or it can lead to a few good years followed by decades of misery. Be smart with this.Human: Sadly he mentioned that the wifes parents know about it so keeping it a secret will be tough.Assistant: Luckily they live up North Mother in law is Canadian. None of our social circles overlap in the slightest. Still, it may get out I suppose.Good thing I perfected my blank stare and overall awkwardness years ago. Any asking for money will leave everyone involved feeling so weird they will give me 20 to walk away.  <response>: Since theyre so far away, it probably wouldnt be hard to brush off anything as just a wild rumor. 