12. Take responsibility for your retirement. If your employer doesn’t offer a workplace pension plan, then start your own individual retirement account.

13. Seek financial advice. You don’t have to figure out how to plan for your retirement on your own; get help from a licensed investment advisor.

14. Shop around for options. Visit the various financial companies that offer approved retirement plans and ask questions about their products and services.

15. Determine your age requirements. In order to create a nest egg that lasts throughout retirement, you need to be practical about when you want to retire and your life expectancy.

16. Calculate your retirement needs. You have to project how much money you will need to spend in the future, in order to work out how much you need to save now.

17. Consider the effects of inflation. It’s important to adjust your future spending needs for inflation, as the increase in the cost of goods and services can negatively affect your retirement income.

18. Commit to an investment plan. After your advisor has created the right mix of tax-free investments for your plan, use a salary deduction or standing order to save every month.

19. Save as much as possible. Make sacrifices in your current spending so that you can save the maximum allowed in your retirement fund.

20. Review your plan every year. Major changes in the economy or lifestyle adjustments may have affected your original projections, so do a review with your advisor to ensure that you are still on target.

21. Adjust your strategy closer to retirement. As you approach retirement you’ll need to modify your plan and start consolidating accounts to provide a consistent income stream.