Save more strategically
Once you start receiving all this money it’s time to think about how you’ll save it, too. This step is crucial, as otherwise, you might be bleeding more money than you’re making and you can say goodbye to your plans of leaving anything behind for future generations.
Focus on individual retirement accounts, also known as IRAs and, if your employer provides a 401(k) match, make sure to max out your annual contributions. There are also other tax-advantaged investment plans.
Figuring out how best to save your money can be challenging, so talking to a financial adviser can set you on the right path.