You probably could manage to live quite comfortably for the rest of your life on 1 million, but you wouldn't live a millionaires lifestyle with fast cars coming out your ears and champaigne for breakfast! I wouldn't retire on it, I'd out it to work for 10-15 years, then retire.. Easy to make money if you've got it to start with..
With 1 million mate I could live a very flash lifestyle. Who says you have to buy things outright? I'd be mortgaged up still and finance on the cars....simple..?