I am the single admin and support person for my forum, so I need to see all topics and all posts that are created on the forum.

Is there a setting to get an email notification each time a topic or a post is created?

You can set your notifications to send an email on each new topic, then follow each forum. That will send an email each time there is a new topic.  It would be better to use the activity stream for this however, it's much easier and more efficient, and what it was actually designed to do, (show you specific content based on the options you set etc) 

Where in the settings does it allow me to get a notification for each topic? I am using IPB 3.4.8.