When you retire, you free up more time to spend with loved ones and do things you enjoy. However, many seniors find themselves anxious about the loss of income.

With a little planning, you can craft a retirement where your finances are in order and you don’t have to worry about not being able to afford what you need. Follow our five tips on building and keeping a comfortable nest egg for your golden years.

Choose Investments Wisely

The safest investments are those with a predictable income and a low return. It’s best to invest in these sorts of schemes early in your career so that they can quietly make you money as you work. Remember that the first five to ten years after you retire are crucial to how the rest of your retirement goes. Make sure you have enough in savings, investments, or a retirement fund and avoid overspending.

Account for Inflation

When you zero in on a retirement goal or plan, make sure you take the rise in prices and inflation into account. If you don’t assume that prices are going to skyrocket as time passes, you’ll find yourself burning through your retirement fund pretty quickly.

Keep Communication Lines with Your Spouse Open

You and your spouse might have very different ideas of what retirement entails. Planning retirement spending with a partner should be a joint activity. Decide what your goals are as a couple, take stock of your savings, and re-evaluate anything you happen to disagree about.

Prioritize Health

Healthcare costs are going to be a big part of your spending when you’re older. Try to eat healthy, incorporate an exercise regimen in your lifestyle, and cut down on addictive substances like tobacco. This will keep you in good shape and reduce your risks of chronic disease and illnesses later.

Follow a Budget

A properly planned budget will help you keep track of spending when you retire. If you’re not sure how to create a budget, meet an investment planner who will give you the tools and guidance you need.