This dip should not be left out on the counter or unrefrigerated for more than 1 hour - the mayonnaise will not keep fresh.
You do not have to toast the almonds. Toasting the almonds adds crunch and flavor, but many people make their Million Dollar Dip with raw almonds which is still delicious. To toast the almonds, spread them on a sheet pan and roast in the oven for about 5 minutes or until they are golden brown. Remove from the sheet pan immediately or they will continue cooking (and can burn) on the hot sheet pan even if they are out of the oven. Cool toasted almonds completely before mixing in with the other dip ingredients.
Storebought pre-cooked bacon or bacon bits can be used instead of cooking and crumbling it yourself.
This dip will keep in the refrigerator in an airtight container for up to 3 days.
All of the components of the dip can be prepared in advance (grating the cheese, cooking the bacon, toasting the almonds, etc.) and then stored in airtight containers or plastic baggies until assembly time.