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Discover Ludwig"set for life" is a correct and usable phrase in written English.
It means having enough money or resources to live comfortably for the rest of one's life. Example: After winning the lottery, she was set for life and could retire early without any financial worries.
Dictionary
set for life
adjective
Possessing sufficient resources, especially financial, to last a lifetime.
Exact(60)
Slugger is now set for life.
He is set for life.
I felt set for life.
Should have me set for life.
"Now I'm set for life," she said.
His image is set for life.
"You are not set for life.
"I am set for life, my family is set for life," he said.
The Colonel thought he was set for life.
"You're set for life," he said, squinting through his sunglasses.
Get it right and you could be set for life.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com