The thing I realized about increasing wealth is that it's never enough. You are definitely right about being able to improve lifestyle, but think of it this way: having to pay 700k in taxes, still needing money in my bankroll to play with, and had I chose to buy a house the money is all gone. Sure the house is paid off with no worries about mortgage, but by no means would a win like this set me for life.
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800,000 at a conservative 4% withdrawal rate is 32,000 a year. It's definitely possible for you to live on that sum.