Ok, you came into a pile of cash.

Now what?

Now don’t be stupid, that’s what.

Here are the only 6 pieces of investing advice I give to people:

1. Don’t buy annuities.
2. Don’t buy whole life insurance.
3. Don’t buy something you don’t understand.
4. Diversify.
5. Diversify.
6. Diversify.

That said:

If your sum of money is anything over a a million dollars or so, hire three people and take them to a two-hour working lunch in a private room.

You should ask:

1. A CPA
2. A tax attorney
3. A fee-only financial planner

Together, they will point you in the right direction.

Investing over five million? Get that group together once a year.

After that, just always be aware of the fees you are paying for a certain investment.

Mutual fund fees, for instance, can vary greatly.