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Since you said more than enough to pay off the house, I would:
Pay for the house. Invest the remainder in something long term and safe as hell.
Then with the money you'd be paying to a mortgage you can split into percentages - so much to live off, so much for tame investments, so much for crazy, risky stuff and so much to stuff into the mattress for when the markets and planet go to poop.
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All the best to you 
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