Well, assuming this $1M is a winning rather than something you've earned and accumulated over time, I could get creative here.
1. Hire a lawyer. This is especially important when an individual wins the lottery - depending on the state or federal laws you'll have a certain amount deducted...but for keeping things simple let's pretend a tax on this winning doesn't exist. $1,000,000 winnings with no strings attached - I would hire a lawyer immediately to ensure any future ventures or investments go smoothly (as well as to protect myself from any competition)
2. Subtract $100,000, put it in my bank account. This is basically fun cash that I can do whatever with.
That leaves me with $900,000 (again going with the no tax rule.) Next I would...
3. Subtract $750,000 and use it to invest. The outcome will obviously vary depending on what you invest in and the time that you do. Some people come out fine, others go homeless after investing in fads - so ideally it would be short sparks in very concentrated industries. This leaves me with $150,000, which I would invest in a Roth IRA. This also covers my behind in case the $100,000 "fun cash" is used up by then.
4. Wait a really long time and stay frugal with the $100,000 fun cash. Assuming you invested in the right places, your lawyer covered anything scary, and you left the Roth IRA alone until you've lived beyond about 50 (assuming you make it there anyway) everything should be on the up and up. Or 7th is just really bad at finances and will be left penniless