Here is my problem with this concept:

You get 1 million dollars, at the curent tax rate that would equate to $667,000 after taxes, but for fun let's say they give it to you tax free

$1,000,000 in hand

You can't work so no income, your retired!

No Social Security, cause you do not qualify, and under current law if 55 not for 10 to 12 years.

Buy a car, approx $24,000

Buy a house say for $175,000

Total expenditures $199,000

$1,000,000 -
$ 199,000
------------------
$ 801,000 @ 4% bank Cd rate, cause you can not afford to gamble with it

$32,040 per year, which WILL be taxable at approx 28% depending on where you live
- $8,900
Leaving $$23,140 for income Or $1,983 per month to live on with a brand new car and paid for house it id doable but not livin' large for sure. If you had a few bill to pay off first it might not be a good deal.

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