Making the most of your retirement means working out how you want to live when you retire. Then putting in place strategies to make it happen. The good news is, there are simple steps almost everyone can take to get ahead.

simple steps to get ahead

First, review your position with the help of a professional financial adviser. You can see if there’s a gap between where you are now and where you want to be, and work out how to bridge the gap using smart financial strategies.

Next, make the most of all your opportunities. For example, the super system is there to make retirement easier. So use it. One smart strategy is to make extra contributions to your super using what’s called a salary sacrifice arrangement. All it means is you put pre-tax money into super to build a bigger nest egg.

Also understand how the rules apply to your situation. For example, do you know how much super you can save before you start to lose some tax benefits? And do you know what Centrelink benefits you are entitled to? It may well be more than you thought.

my challenge

The good news is that it’s really not that hard to get going. So here's my challenge – take the next step and do something for yourself and your retirement today.

Because if you don’t act now while it’s fresh in your mind, it will probably join the list of things you were always going to do but never quite got around to. Chances are you’ll also miss some opportunities.”

Paul Clitheroe, ipac founding director, host of Channel 9's "Money" reports and Chief commentator for Money Magazine.

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The information provided in this article by ipac securities limited is for general use only and has not taken into account any individual's personal circumstances or objectives. You should speak to a financial adviser before taking any action.