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Why hasn't anyone suggested using some of that money to hire a financial advisor? That option, while potentially costly, seems least likely to backfire.

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Probably because most financial advisers are thinly veiled salesmen masquerading as financial experts. If you do want an adviser, you want to make sure they have fiduciary duty, if not, you're just as likely to get dumped into high load, high fee funds that just pad the pocket of your "adviser"

Up here, we have your standard "basically a sales guy" advisors, and fee only advisors. I would imagine its the same in the States.

100k isn't usually enough to get the good guys' attention, though. It's annoying chicken & egg thing.

I went with a financial advisor because otherwise I know I would just leave the money in a savings account, or even worse, spend it. Working with First Command was what I needed at the time to get set up putting some money into an IRA plus some other investments every month. If you want to dedicate the time, and have the willpower to invest yourself I have no doubt you could do better, but not everyone is in the perfect situation to do that.

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