I won 1 million dollars in the lottery

I won 1 million dollars with a powerball ticket. It was a once in a lifetime experience and I feel extremely fortunate and lucky. I feel like I have a lot of pressure to make the "right" decisions about it so I want to hear about people's opinions. I am from the US and I live in Florida. For those who don't know in Florida you can only take your winnings in a lump sum and pay taxes, no annuities. I have spoken with a financial advisor and I am not totally sure I trust them so I wanted to get some other opinions.<br><br>I am 25 years old and I make about 40,000 a year after taxes. I have 12,000 in a savings account and 1,300 in a checking. (Not sure if it makes a difference but just in case). <br><br>Ok what did I win: After taxes I will have about 650,000. So here is what the financial advisor told me to do (this is definitely his upselling of his services because clearly he has more experience than me)<br><br>1. Take 50,000 out for "fun" (he said take a trip with family/friends, take my wife on a nice vacation, buy some nicer things, donate some funds to charity-although he said not too much because they can take advantage of "young" people). He said spending 50,000 on anything I want will help me feel satisfied with my win, like it was "worth it". (This is clearly a ploy to get me to spend money on his services) So that brings my winnings down to 600,000. <br><br>2. Pay off any debt you have. I don't have any debt this is my only concern. I know that the advisor did not think about this when he told me to spend 50,000 because he has no idea if I have any debt or how much, but I don't. So what should I do with 50,000 besides take my wife to Paris? (It's a good thing because we never would have been able to afford that trip)<br><br>2. Put the rest of the money into a high yield savings account. He told me that I should put the money in a savings account with a high yield, or a cash value account. I do not understand the difference between the two and which one is better for me? It makes more sense to me to put the money into a high yield savings account because I can have access to it anytime. I'm not sure what the benefits of a cash value account are. The advisor did not really answer my questions about it he just kind of blew it off, which is another reason I don't trust him. I am planning on keeping the money in a high yield savings account until I decide what to do with it. I have it in a high yield savings with navy federal right now (4.5% interest). <br><br>3. Giving back. I was planning on giving some to my parents and brothers and sister. I was thinking 10-20,000 to my parents (they make good money but not enough to retire comfortably yet). And then 5,000 to each of my siblings. I also want to donate a little bit (5,000) split up amongst them, to a few charities that I give to each year that help disabled children. <br><br>4. Starting a business. I have always wanted to start a business. I have a few ideas for businesses that I think can thrive in my area. I can put some of the money towards that. I plan on treating that money as if I had taken out a loan because it will take a few years for the business to be profitable. This will stop me from spending it all and help me keep it separate. I will also have a good amount of money for if/when the business goes under. So now I have about 460,000 left (if I take 50,000 out and give about 60,000 to family/charity). He wants me to put about 230,000 away in long term investments this way it can accrue interest over time. <br><br>5. Invest. He wants me to put the other 230,000 in long term investments (stocks, bonds, etc). He wants me to put some in real estate and mutual funds as well. I really don't understand what these options are or how they work. I get the very general idea of stocks but that's it. <br><br>Ok so now I kind of know what I have to do with the money but I don't know how to do it. I need a financial advisor but he is kind of a shady guy. I don't trust him and I think he is just making up some random numbers.<br><br>I am overwhelmed and I don't know what to do. I am not good with numbers and I am very anxious about making the wrong decision. I can't sleep at night and I feel like I have a lot of pressure on me. <br><br>What would you do if you were in my position? <br><br>Has anyone ever won the lottery and had these same feelings/issues? <br><br>What would be the best way to invest my money? <br><br>How do stocks and mutual funds work?<br><br>I'm just really overwhelmed with this situation and I feel really anxious. Any help/advice would be great. I am just trying to do the right thing here and I don't want to lose the money because I made a mistake. Thank you for reading.<br><br>**tl;dr:** I won 1 million dollars in the lottery and I don't know what to do now. I am feeling really anxious and overwhelmed with the idea that I have to make the right decisions with the money. I don't want to lose it all because of a bad investment. Any advice?