Planning for retirement can be stressful, but breaking it down to these five elements can help. If you want your nest egg to be robust when you’re ready to retire, you have to take care of it now. That means careful investing and saving. You can’t just go out there and wing it.

Here are five things to consider as you build and manage your wealth.

1. Reduce your risk.
If you lose 10% of your savings when you’re young — say, $1,000 of your $10,000 — it’s a blow. If you lose 10% of the $1 million you have saved for retirement at 65, it will feel like a knockout punch. Know your time horizon and how much risk you can tolerate. Your portfolio will thank you.

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