No. of Recommendations: 2
What fun!

First, where are your 401 and IRA invested? If you plan on investing this money, it should be as part of a porfolio.

Secondly, what are your goals for now and at retirement? How much money will you need?

Finally, my thoughts,

1. 50K to charity of choice. I believe that at one time that Fidelity had a fund that you could invest in and they would make payments to charity of your choice on your behalf.

2. 250K into mutual funds/stocks. If your 401 or IRA is in an index, I'd look for something else as JB indicated and I like DCA individual stocks. See DRIP Boards.

3. 100k into other investment such as starting your own business, 2nd home, or vaction home or Motorhome if you like to travel.

4. 75K into money maket or money market mutual fund. Use for nice annual vacations or leave alone.

5. 25K into laddered (or tiered) CD's or IBonds.

6. Other then #1 and #3 look into other tax write-offs.

7. Use #4 and #5 to suppliment your 401 and IRA if you don't have enough income to max them in the coming years given the maximum will be raised.

Good luck!
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