In early November I will come into an inheritance of $2.5M. I don't want to leave it in cash as I now have no other employment so intend to live off of it and I'm 10 years from being able to draw on super (of which I don't have all that much anyway).
I was thinking of entering the stock market in November or December and investing in a spread of ASX200 shares that give some decent dividend yield. I've bought an apartment off the plan that will be ready Dec 2015 so will need to peel out $550k then, and another apartment in Dec 2016 so another $1.5M comes out which needs to be capital stable. The other half million or so can be invested for longer term. I figure I'll live in the nice place, rent the other one out, and the rest will come from the portfolio which I'd dearly love to not have to eat into. Owning the apartments outright I could even draw back equity at cheap interest for geared investments or trading which opens up most of the portfolio again.
The market looks to be softening a bit so waiting a month or three for the right timing is fine.
What would you do?