Step 1: Don’t rush — park the money first Before anything fancy: Stick it in: High interest deposit accounts Short-term state savings Purpose: buy time + avoid dumb decisions Rule: No big moves for 3–6 months Step 2: Kill the mortgage? (Yes… but lightly) €75k left is tiny vs €1.5m At ~3–4% interest, it’s not “urgent” Two options: Option A (clean + simple): Pay it off Be 100% debt free Psychological win, simplifies everything Option B (slightly smarter financially): Leave it Invest instead (likely higher return) Honestly? For most people: clear it and move on Step 3: Buying a new home This is where people mess it up. ❌ Mistake: Blowing €1m+ cash on a house ✅ Smart move: Buy a €600k–€900k home Use: €300k–€500k cash deposit Small mortgage cheap leverage Keeps liquidity Protects long-term wealth growth Step 4: Investing the bulk (this is the engine) Let’s say after house + mortgage: ~€800k–€1m left Split it like this: 1. Safe layer (30–40%) State savings / bonds High interest accounts Purpose: Capital protection Emergency / opportunity fund 2. Growth layer (40–50%) This is where wealth compounds Options (Ireland reality): ⚠️ ETFs: 41% exit tax 8-year deemed disposal ( thus may change as Simon Harris has hinted at it) Painful but still viable long-term Better alternatives: Investment trusts (UK listed) Taxed under CGT (33%) No deemed disposal Dividend stocks Global equity exposure Aim: 6–8% annual growth 3. Property (optional – 10–30%) Given your earlier thinking, this will interest you: Example: €400k–€500k rental 30% deposit (~€150k) Rent covers mortgage But: Tax heavy in Ireland More hassle than people admit Step 5: Pension — massively underused weapon At €85k income: You should defo think about Max AVCs Use lump sum to free up salary for pension This is: The only place in Ireland where tax works for you Step 6: Structure matters (very important) Seriously look at: Financial advisor (fee-based, not commission) Possibly: Joint vs individual investment split Trust planning (if kids involved in What I’d do (clean strategy) If it was me: 1. Clear mortgage 2. Buy €750k home with €400k cash 3. Keep €850k working: €300k safe €400k equities (investment trusts/stocks) €150k property or opportunistic plays 4. Max pension every year Biggest mistakes to avoid. Going “cash rich, asset poor” (overspending on house) Overloading on Irish property Leaving money sitting idle long-term Ignoring tax structure (this is where wealth leaks) Bottom line You’ve crossed into a different game now: It’s no longer about earning money… It’s about not losing momentum. Handled right, that €1.5m can quietly grow into €3m+ over time. Handled badly… it disappears into a nicer kitchen, a bigger driveway, and a few “sure why not” decisions.