Whether you are 25 or 55, it’s never too late, or too early to start putting money away for retirement. While each age range might have its challenges, building a retirement fund is something you can do at any time.

However, the earlier you start, the easier it will be in the long run. The most essential factor when saving your nest egg is having a strategy in mind. As you start planning for your golden years, here are a few things to keep in mind.

1. Consider Your Options

Retirement is more than just hitting a certain age and collecting Social Security. Sadly, government-funded plans aren’t as ironclad as they used to be. It’s a good idea to check out other retirement options and start building a nest egg. Do the research and see what other avenues you can explore.

Roth IRAs, self-directed investing, traditional IRAs, company 401ks, annuity plans: there are plenty of ways to save for retirement. Of course, you don’t want to just jump into any investment; however, consider the options that are open to you and start forming a savings plan.

2. Set Your Goals

Before you start saving, you should have a goal in mind. How much will you need to live comfortably in your golden years? Decide how much you want to save and when you want to retire. From there, you can start to crunch the numbers and come up with the end game. Don’t forget any outside factors that may influence that final number.

Do you want to continue to work when you reach retirement? If you are starting young, do you plan to have a family? Life has a funny way of messing with plans, so while you may have a plan in place, make sure it’s flexible. It’s okay to start small with short-term wins with a bigger long-term achievement in mind.

3. Outline your Obstacles

Now that you’ve set a goal, tackle the obstacles that may get in the way. Debt is a giant hurdle many people are facing between student loans, credit cards, and private lending. Another obstacle could be not having the funds to save. It can be difficult to look toward the future if you are struggling with the present. If you already have investments, be sure to monitor them – make sure they are bringing in money. Also, if you are investing, take care to balance the assets in your portfolio.

Any of these obstacles can make saving for retirement impossible. Adjust your goals and tackle your obstacles one at a time. A retirement plan works better if you have your obstacles out in front of you. Take inventory on anything obstructing your savings and tackle those issues first or work on a strategy to take care of both to get ahead.

4. Tackle your Budget

Once you have a goal in mind and your finances in order, it’s time to set a budget. To get ahead financially, you must keep an eye on your spending. That means monitoring all your money coming in and out. Where is all your money going? It can be difficult to save for the future when you spend your entire paycheck as soon as it hits your bank account.

Do you have debts, too many coffee shop visits, or are you just getting by paying your rent? Discover your investment possibilities by first getting a handle of your own income. Balance your bills, livelihood, debts, and saving and you will be able to build a solid nest egg.

5. Weigh the Risks

If you have started investing or have yet to select your assets, it’s a good time to consider how much you are willing to risk with your investments. Where do you want to invest your money and how much are you willing to lose? Your choice can determine how you diversify your portfolio.

Based on your personal preference, select your assets to balance each other: long-term, slow-growing assets paired with a few that are higher risk. Be cautious with your selection. The last thing you want to do is throw everything away on a bad investment.

6. One Day at a Time

The best way to start saving for retirement is to take things one day at a time. Start small; set smaller goals, squirrel away funds, make smart investments. Eventually, you’ll be able to work toward the bigger picture. Keep an eye on your portfolio and monitor your investments. Tweak your strategy and be flexible depending on your situation.

Tackle your debt, save a little here and there, and watch your assets grow. When you are able, move funds around to grow faster. Invest where your money will be the most effective.

Above all else, have patience. If you are ready to start saving for retirement, consult your financial advisor and see what options may be open to you. It’s never too late or early to start saving for retirement.