Choosing the right super risk profile at the right time can drastically increase your retirement savings.

The following considerations will help you invest wisely when it comes to building your retirement nest egg.

Types of investment options
Your super fund should offer a range of investment options to consider. Here is what to know about each kind of option:

• Aggressive options are high risk, and you may have to sustain significant losses hoping to maximise your return in the long-term
• Growth options aiming for higher returns over longer terms may sustain some losses in poorly performing markets
• Balanced options provide moderate growth but endure less damage with an economic downturn
• Conservative options provide a lower return but are the lowest risk option

Picking the right option
The investment option right for you depends on your retirement goals, your financial circumstances and your attitude towards risk. Your timeframe for investment should be substantial if you are looking at high-risk options as you have a considerable opportunity to recover from any losses. As your income stabilises and your retirement comes closer consider shifting to a low-risk alternative to secure what you have built up. You may also want to look to your assets like your business or various properties that may also help you fund your retirement when assessing if you can afford to take a risk.