There is no need to immediately invest your windfall. Ideally, you would have already been prepared and had a strategy to put this money to good use. However, windfalls can be unexpected. When this is the case, look carefully at your finances. Spend a few weeks or months determining what makes the most sense for your situation. Making careless decisions will wreak havoc on your financial future. Be methodological and get it right. Who knows when you will come across another windfall of cash! Don't squander the opportunity.
I would recommend investing your windfall in a tax advantaged retirement account (401k, Roth IRA, etc.). Minimize taxes wherever possible. Mrs. Hammocker and I recently received an offer for one of our rental properties that we could not refuse. We are currently weighing our options. We are maxing out all of our tax advantaged accounts (401ks, Roth IRAs, HSA) and have no other debt. This is an excellent conundrum to have. Our plan is to sit on the windfall for 1-3 months and carefully weigh our options.
Options that exist:
Big decisions need to be meticulously planned. We will take our time and determine what makes sense for our circumstances.
The average person would immediately blow their bonus on something frivolous. When was the last time you invested the majority of your windfall of good fortune into a retirement account? The best gift you could give yourself is financial freedom. Why squander that freedom by purchasing a new car that will immediately depreciate? Instead, focus on income producing investments. You work too hard for your money. Why not let it work hard for you?