I would invest $300,00 of it into an investment a friend of mine made that brings him back $10,000 per month. He can also compound, or take payments every month. I would take the remaining money and pay off all debts around $35K, and take $100K and put it on a plot of land to have a house built in NJ. I would take the remaing amount and put it into a high interest savings account like ING.
if you donated $500,000 to me ill make that $500,000 to 1 million than that 1 million to 2 million and it goes on
I know its lame....but if I got $500000 i'd pay off the rest of my student loan, buy a house and a new car, then invest the rest. It's lame, but probably the best game plan IMO.
I would donate 100,000$ to charities I would invest into my internet bussiness I would go on a vacation with my family (The one that we always wanted ) I would buy myself a car and a M-16 (For the gangbangers who jump me) I would put the rest up for gambling (Like 75,000$)
With my skills, I believe I will buy myself a new pro-sumer camera and direct a featured film with my own script.
With that money, I will buy a football team and manage it till become champion of European Champions League.