For new empty-nesters, there’s no time like the present to focus on financial planning. Chad Viminitz, a certified financial planner and author of Money Assassins, offers several tips for doing so. First, think about life insurance. Insurance, especially life insurance, is probably one of the best estate planning tools you can use to transfer assets to the next generation, says Viminitz. And he says, as with all types of insurance, the younger you buy, the better the price. Second, think carefully about utilizing your home ownership asset: Should you sell and downsize, or hold on to the property and (potentially) pursue a home equity line of credit. Third, and most important, if your kids are out of the house but you still have several working years left, adjust your cash flow and begin saving more right away.