How to make sure your wealth lasts a lifetime - or more

Getty Images / Tim Graham

Ensure that your wealth continues to last and grow, even in retirement.

Starting your retirement savings accounts is just half the battle - sure, it's a great first step, but a lot more goes into growing and sustaining your wealth than just contributing to a 401(k) or IRA.

Things like taxes and investing fees can quickly eat away at your retirement savings. Plus, how should you change your financial habits once you're no longer working full-time and have a steady income? How can you set your children up to benefit from your lifetime of hard work?

Here are seven strategies to consider to ensure your wealth lasts a lifetime ... or two:

This article was written by Business Insider without the involvement of Merrill Lynch.