If I was given $1m tomarrow I'd invest in in good properties that produced nice cash flow. I would grow said $1m over the next five years and then cash out the original million but keep the cash producing property.
After that I would buy either a nice older Swan, in the 50ft range or maybe a Trumpy/Rybovich. Figure $500k for the boat, $500k to get it the way I want it.
Then I could enjoy said boat, and would just have to come up with $50k a year to run it.