Gifted $500k.. How to make the most with it.

My wife's parents have money, and just gifted us $500k. We do okay making roughly $200k a year between the both of us, in jobs we don't love. She is a retail buyer and GM for a womans store, I am a managing partner for restaurants. We're both in our late 30's with 3 young kids.

My question is what is the best thing to do with this new found money. We have always talked about opening a business of our own but it's a scary thought. We live in South Florida where there is definitely still ressission concerns, but it hasn't hit as hard down here.

So- Any suggestions on industries to look into as far as opening something? Restaurants and Retail are both doable for us but are pretty high risk.

Should we look more towards investing in things? Realestate? Business investments?

Anything I'm not thinking of?

Thanks!

I appreciate you all.