In addition to all the other comments...
I have to point out that the OP said that he would want to live off the interest while "doing nothing".

He'd get mighty bored!

If you don't have a job, you need things to do during your days. There's only so much time you can spend sitting and watching TV. And in order to entertain oneself, it costs money. Especially if - as you don't have a job - you have ALL DAY EVERY DAY to find things to do.

I think you'd find that you ended up spending a lot more on your lifestyle than you do currently - simply because you'd have more time to fill up. This would be true even if you did not spend all your money flying first-class on exotic holidays all the time.

As much as most people's everyday jobs are regarded as a grind, would you really want to live out the rest of your days idle?

I'd say the best thing to do - if you came into a lot of money very early in life - is to figure out exactly what you want to do. What contribution do you want to make to the world? Then use your fantastic position to your advantage in realising that dream.

Even if you have no huge plans, one sensible thing to do, for example, would be to buy a small business in an area that interests you. Run the business - thus giving yourself a job, an income, a goal and a sense of satisfaction.
(EuroSong I love horse meat: best of all the animals, Fri 24 Oct 2008, 20:56, 1 reply)

Wisdom
Once you've got you're mortgage paid off, you only need a modest salary, keep it enjoyable and not too risky!
(cherrynicola, Sat 25 Oct 2008, 15:00, closed)