Quote:
Originally Posted by Laneco
Maybe this sounds a bit odd, but here's what I would do.
Get a safe deposit box. Put the uncashed check in there. Just leave it for a while until I've wrapped my brain around having money and decide what to do with it. Maybe it would only take a couple of weeks to meet with a CPA and consider my options, but it might take me a couple of months, too.
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You're right, that is odd advice.
Go deposit that cheque in a bank account, at least start earning some interest on the capital while you decide where to invest the money. Get some advice from a financial planner who will analyze your situation (assets, debts, income, retirement plans etc) and advise a course of action suited to your need. If he/she starts flogging some dubious products, look for another advisor.
Don't worry about the FDIC guarantee, there are many individuals and companies with much more cash in the bank than 6 figures. Just use a reputable bank.