That guy is an idiot. He started playing 5K Hu SnG's, then dropped to lower HT ones and is constantly losing money. Well, at least he gave it back to the poker community
I probably would start spending it on stuff I always wanted,like a new place to stay decorated like I want.And leave a good bankroll and play tournaments + cash games.At low level.
I would withdraw $130,000 and use it to live comfortably for a few years and use the other $20,000 to have a serious go at making a career out of Poker, maybe spending a few grand on professional lessons.