Toss it in taxable account in full index sounds good to me.
What are your fees at Schwab? Make sure you are at the lowest fees available, compare with others like vanguard to verify you aren't paying more fees than needed.
mrpercentage, you advice is bull shit and you know it. Doesn't need to be refuted around here, we aren't stupid, just pointing out the obvious.
Congrats on the lump sum and great to hear you aren't thinking of spending any of it!