Pls help set up my portfolio

[Beachwalker]

Morning everyone long time lurker here. I've enjoyed reading your posts and have learned a lot over the years. I am not a sophisticated investor and have not posted as I feel like I can't add anything to the conversation. Below is my situation. I would appreciate any comments or guidance.

I'm selling my food industry business, closing in September. My wife (60) and I (60) will retire, health insurance will be covered by her job. We own a primary home, vacation home and three investment properties. Rental income is $60k/yr. Our budget is $14k/mo., although that includes $6k for travel, spoil the kids, etc. The proceeds of the sale will net $8.2M after taxes, broker fee and paying off debt. I recently did a disbursement of $920k thats sitting in cash. This is our NW snapshot-


RE equity $2,120k
401k $780k
IRA $ 310k

Sale $8,200k (what to do here)
Cash $920k (what to do here)

Total $12,330K


Expenses $14k/mo.

Income
Rentals $60k (net)
Wife pension $33k
Draw on 401k $49k
Draw IRA $20k
SS?

Our goal is to protect what we have earned and to build wealth. We have both worked multiple jobs since we were 12 and live below our means. The thought of becoming a spender vs. a saver is a little daunting but we will have to learn how to deal with it. I have interviewed Fisher Investments and the firm that manages our 401k. Once these conversations get into the details I'm a little lost. Just not in my wheelhouse. I'm not opposed to buying more investment properties. Thank you for taking the time to read this!

 

[Al in Ohio]

Please hold off in meeting even once with Fisher Investments or anyone else until you educate yourself more in investing and hidden fees involved from advising.

 

[Letj]

You’ve won the game and at 60 it might just be time to live life without the constraints of business and rental properties. Do you have any hobbies or charitable organizations you’re interested in serving? We all can keep working until we die and keep accumulating more but is that the point? You have more than enough to cover your expenses and splurge for the rest of your life. Go out and live. As for your investments, most here won’t recommend anything but a well-balanced index fund that you periodically balance to suit your investments goals.