First of all. Putting that money in a trust for 20 years at a time. IS going to give you a much greater interest rate then checking or a CD.
“to maintain my current level of income at today’s interest rates.”
Part of your current level included the cost of going to work. THAT not being an issue. And, if you keep working. Including into your income from the interest. (that is compounding interest) you will be bringing home more. Always having a SAFETY NET.
But, piss that money away. And, when you hit 65. Your principle will be gone and you will be SOL. (shit out of luck)
Or, pay off your debts and give yourself an allowance. Let’s say 60k a year. Operating like you have a job. Putting money away in a retirement account. Paying off the mortgage and such.
Hopefully by the time your “million dollars” is gone (meager interest included in20 years or so). You can retire with a nest egg.
The goal is to avoid pissing it all away over the course of 5 to 10 years.