I know this is kind of a strange place to be asking for advice but I am a little lost as to where to go... I just inherited, what I think is, a large sum of money (no assets just currency).

There seem to be so many different way to turn with investments so my first question is, how do I find good a good adviser? I see ads on TV but have also read that most FAs are just sales people working off commission, I really want someone who will look after my needs and I have no clue on how to find someone well qualified. Is it best just to call JPM or GS and talk with how they connect me to, this does not sound like a good idea... Also could you give me an idea of what type of fees good FAs are charging, percentage based or fixed?

The next question is what are my needs... With the amount I stand to gain I have calculated that if I were to get an 8% return I could live making my current income for the rest of my life and I could retire now, of that 8% return 5% would be reinvested to keep up with inflation (I know it a little high) and 3% I would live on. If I were to get up to 10% I would reinvest 5% and keep 5%, anything over a 10% return I would split 50/50 between spending and reinvest... So my end goal is to be able to retire now but also be safe a secure? Do you think my goals are realistic in a fairly safe investment strategy?

We use Edward Jones investors group.

Our local representative has been there for all these questions and has made the investments soundly,securely and we have gained,even with the ups and downs in the market.

Talk with a reputable company,find their fees.. etc.and look around the whole gambit till you find one that you are comfortable with.

OH,you might not want to put all your eggs in one basket.

If you choose to hire a financial adviser, make certain he or she doesn't charge you based on your assets. You should be charged based on the work done. I'm am attorney. I keep detailed records of the work I do for clients in 15 minute increments and when I send them a bill, I tell them what I did and how long it took. Make sure your adviser does the same. Someone see's you walk in with, for example, a million dollars, he or she may say "I'll charge you 7% of the assets you have under management with me." If the guy's running a hedge fund, that's fine. But not for what you need.

It also depends on what you want to do with the money, long term investment, 10 plus years, or retirement , or mid term or even short term.

What you do with the money will depend on how long you have to invest it, and how much risk you are willing to take with the money.

The first thing I would do with your money is nothing. Seriously. For at least six months I would just park it in a money market fund or a bank CD. You can do this at your local bank. Also, be sure to run like hell from any relative or friend who has an investment for you.

Once you have your money in a secure environment, earning at least a little interest, I would recommend that you begin educating yourself about money and personal finance. If you are intimidated, don't be. It isn't rocket science. I did this by reading everything I could get my hands on. Good magazines include Money, Kipplinger's, Forbes, and Portfolio. Good books include, "Total Money Makeover" by Dave Ramsey, "The Millionaire Next Door," and "Bogle on Mutual Funds." Also, anything by the Motley Fool. These will get you started.

Once you feel like you have learned the language of investing and understand the basics, you can start interviewing financial advisors. If you have more than $500,000, you need to look for a fee based "certified financial planner" - someone who charges by the hour. In general, these advisors are better because they are more educated than a stockbroker (see Edward Jones) and do not have an incentive to sell you certain mutual funds (which offer bonuses, aka kickbacks) or cause you to buy and sell frequently to earn the broker commissions. Edward Jones brokers are generally reputable, but they earn fees based on commissions, which is an inherent conflict of interest and makes them an expensive way to invest. In addition, they have deals with certain mutual funds, so they cannot, for example, sell low fee Vanguard mutual funds because they don't pass fees back to them. Finally, Dave Ramsey, a popular financial and anti debt guru, endorses local providers on his website at Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan..

I hope this is helpful to you.

Just a tip here...

I would be careful about posting things about coming into a lot of money or about investing on this site. I do know of at least one member who mentioned coming into a lot of money and what to do about that who was spammed so much in emails as a result of that thread, that he requested and it was granted that his thread be removed.

Thanks!