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4. Take advantage of tax credits

Tax-advantaged retirement investing, especially if you aren't rich, has become very easy to do. You can make pre-tax contributions to a 401(k) if your employer offers one as well as to a traditional or Roth IRA. Since you don't pay taxes on the money you're contributing, each contribution costs you less, and the government essentially gives you free money for retirement. If you contribute $1,000 and are in the 22% tax bracket, this could save you up to $220 on your tax bill. Your $1,000 contribution would cost you only $780.

And if you make under $32,500 per year as a single tax filer or $65,000 per year as a married joint filer, you can also take advantage of the saver's credit. This provides a tax credit worth between 10% and 50% of the first $2,000 in retirement contributions each person makes, which means married joint filers can get up to $2,000 in free money for retirement.

5. Claim your full employer match

If your employer offers a workplace 401(k), many times they'll also match part of the contributions you make toward it. For example, your employer may match 50% of your contributions up to 6% of your salary. If your employer matches contributions, they are giving you free money. You should claim every dollar of it that's available to you by making sure you invest enough in your 401(k) to get the full match.

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