Achieving financial freedom is a respectable goal. But that's the thing: Retiring with enough money in the bank to live comfortably without a steady paycheck is a goal -- it's not a guarantee.

The good news is that creating wealth involves surprisingly straightforward steps. You don't need to be an expert stock picker, nor is it required to beat the market consistently.

Let's explore three proven ways you can augment your income, and rest easy once you're ready to retire.

1. Create a diversified portfolio

One of the easiest ways to build wealth is to create a diversified portfolio. Brokerages such as Charles Schwab, Fidelity Investments, and Vanguard provide investors with a lot of optionality when it comes to putting your money to work.

While owning growth stocks can lead to outsize gains, many of these businesses have not yet reached a stage of maturity in their life cycle where steady, consistent revenue and cash flow generation are common themes. Although some exposure to these stocks is OK, I'd encourage passive investors to opt for index funds that focus on broader growth markets such as cybersecurity, cloud computing, or artificial intelligence (AI).

Another component of a diversified portfolio should be dividend stocks. Dividend income can be particularly lucrative for people who are already retired. However, just like certain stocks, there are better choices than others when it comes to dividend investing.

Taking a look at the Dividend Kings list is a great place to start. This is a rare group of blue chip companies that have paid and raised their dividends for at least 50 years. While there is no guarantee that those trends will continue, I see the Dividend Kings as much safer opportunities among dividend stocks in general.

The last part of this portfolio analysis includes bonds. Granted, bonds can be seen as mundane investment vehicles given that most do not fluctuate to the same degree as stocks. As fixed income investments, bonds pay holders a steady interest rate over a certain period of time. In a way, payments from bonds are analogous to royalties.

Although there are some riskier types of bonds than others, some of the most basic and risk-averse options include U.S. Treasury Bills and savings bonds.

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2. Open a 401(k)

In addition to an investment portfolio, another pillar of your retirement plan should be a 401(k). These are offered by employers and allow workers to allocate a portion of their paycheck each month to fund retirement. Generally, 401(k)s give you the option to invest across a number of different mutual funds.

While this all sounds great, there are some important aspects of a 401(k) that should not go overlooked. Depending on your financial situation, you might be wondering if you can put the majority of your paycheck into a 401(k) and enjoy watching those funds grow into an immense sum.

Unfortunately, this isn't exactly how a 401(k) works. For most people, the 401(k) contribution limit currently sits at $23,000 for the year. With that said, there are some exceptions for highly compensated employees, and for workers who are at least 50 years old.

Although imposing a limit on annual contributions might seem like a bummer, there is a silver lining. Many companies offer an employer match for their 401(k) up to a certain amount. This is a good incentive for workers to max out their 401(k) if they can afford to do so.

Augmenting your own 401(k) allocation with a company-sponsored match adds an extra sweetener. Furthermore, the long-term gains from this extra (and free) money shouldn't be underappreciated.

3. Retirement accounts come in handy

The last area I'm exploring is retirement accounts such as an IRA or Roth IRA. Opening up an IRA is similar to opening up a brokerage account. While investors can buy and sell stocks in their brokerage account at any given time, the opportunity cost is paying capital gains taxes. Retirement accounts such as an IRA offer tax advantages you won't find in a traditional brokerage account.

Understanding a traditional IRA versus a Roth IRA is helpful when determining what is best for you. Essentially, a traditional IRA is an account funded with pre-tax money, and like a 401(k), it comes with annual contribution limits. You can start to withdraw these funds from the IRA at 59 1/2 years old or you can to let your IRA investments ride a while longer. However, once you turn 73, you're required to take minimum distributions. The point is that at some point, the IRS is paid some taxes.

Roth IRAs are a bit different than a traditional IRA. Namely, these retirement accounts are funded with post-tax income. The key differentiator here is that since a Roth IRA is built on after-tax income, investors can avoid penalties beginning at the age of 59 1/2. With this said, it's important to follow these Roth IRA rules to ensure that you're not on the hook for any tax liabilities or penalty payments.

Generally, I'd suggest not relying on an IRA or Roth IRA should you need capital for any reason. The point of these vehicles is to fund retirement, and so it's best that investors don't consider them as lifelines should you need some cash. Instead, it's prudent to consistently tuck some of your income into a high-yield savings account each month while also monitoring your other investments.