I don't think I would go insane with it. I have a very clear plan.
I would give about 10% to my parents. Thier house is paid off, they really don't need much of anything but they've bailed me out several times in my life and they deserve it.
I'd pay off all my debts. (not that that's huge but it's still signifigent).
I'd make some very safe investments of an additional 10% for my daughter that she can have when she turns 19.
With what's left assuming it's a decent amount of money I would be a nice condo and some property, live in the condo while I build the house that I want. It's not a lavish house but since I have the money I can have a house that's laid out exactly how I want it right? Then when the house is build I move into it, the condo becomes my first rental property. If there's still enough money left I pick up a couple more (preferably retail/business rentals, owner liability and responsibility is much less in business rental) and yeah now I have the beginings of a lucrative rental business.
On the income from that I go back to school and see how many degrees I can collect.
