I agree with the previous responses.
Create a plan for what you're comfortable with for an asset allocation. Money you'll need in the short term for expenses should be kept in cash. Medium term (3-10 years for example), you could keep in investment-grade bonds (tax free or taxable depending upon what your tax bracket is). For longer term funds, go with stocks and/or real estate investments. Stocks tend to be more volatile, but with less tax drag and you have more control over when you pay taxes (dividends are an exception unless you locate the investments in Roths or IRAs). Real estate is usually less volatile, but has a higher tax drag and increase the complexity of your tax filings.
In any case, research your investment options like crazy. That's a lot of money, so be cautious and get it right (for you).