re: Received an inheritance now how to plan for future retirement?

You really should look into a financial advisor. They will help you look long term.

At 34 you need to invest to make that money last your life time. Letting it sit and earn cd rates is a big mistake. Your time horizon for the money is so long that you should have some risk based assets in your portfolio. I find that most investors do not understand risk well enough to define what their risk tolerance is.

Find a fee only RIA to help you. I am glad to recommend some if you are interested.