re: If you received $500K, how would you invest it?

On community banks---watch out if people around town know you have $500k sitting around. Some little start up bank will want you to invest--DON'T. You may never get your money out of such a deal. Oh the bank may do fine but selling that small bank stock for what is worth is very hard.

I invested in one community bank and only then after the guys starting it promised me they would sell it in 5 years. They did and I did ok.

BTW--those banks like to talk to you about debt to worth but the truth is they are some of the most leveraged businesses that exists.