how to invest a large windfal?

Ok just read about a guy who won 20 million and lost it in less the 10 years (completely broke) my question is how do you invest to protect the principle and make it grow and live only on the interest of your investments.. what type of accounts should you open? what type of stocks should you invest in? (Side Note: Lets also say you buy a house at 1.7 million, decreasing your initial windfall to 18.3 million i think buying a house at this price would ok because it is an investment in of it self and investing in a money market account that yields a 3 percent return comes out to a few 100 thousand a year. Which should be enough to for you to live comfortably for the rest of your life whitout having to worry about money is my idea realistic and/or wise) please if you could answer the initial question and the second part as well thank you ( Remember this is all hypothetical).