With pension plans becoming more and more obsolete, retirement-focused investments have come to the fore in the past few years. Besides helping you fund your future, these valuable assets also provide incredible gains, and in some cases, constant income till the end of life. Since investing for retirement—and planning it—can prove to be challenging, we have put together a list of tips that may be helpful in the process.

• Assess your options

Multiple investment vehicles are ideal for long-term gains and can return a sizable amount by the time you retire. Mutual funds, stocks, bonds, exchange-traded funds, cash investments, annuities, and dividend reinvestment plans (DRIPs) are also good sources of high returns, although they depend on investor characteristics and risk aptitude. Saving money in certain tax-advantaged accounts such as 401(k), individual retirement accounts (IRA), and brokerage accounts is also an option.

• Start early and young

No one is ever too young to invest. It’s a healthy habit that can earn serious money in the long term, with even the smallest of investments capable of making a difference a few years down the line. Starting early gives your money time to grow and lets you accumulate more compound interest over a period of time. The amount and time of investment can be increased periodically, till one reaches the stage of retirement.

• Be consistent and automate investments

Like every good habit, consistency is an important part of investing. A long-term goal and vision helps maintain discipline and allows you to navigate testing times that threaten to dissolve the underlying idea altogether. Automation is a valuable tool that can be leveraged to directly deduct the investment amount from your account at a specific day of the month. Setting up an automatic investment plan is an effective way to go about it.

• Diversify

As the famous saying goes, putting all your eggs in one basket doesn’t do much good. An array of investment vehicles are readily available, with each of them having their own set of benefits. Investing even the smallest amount across a range of such instruments gives your money room to grow, while mitigating risk factors at the same time.

• Track and review your investments

A good investor is not one who just religiously commits a certain sum of money to a fund. Tracking the investments is just as important an exercise as it helps to see whether the strategy is working. Most plans are dependent on and change due to multiple external factors and fluctuations. Reviewing these with your advisor can help you direct the investment elsewhere in case of losses, thereby saving money.

• Resist temptation until retirement

Unforeseen circumstances are a part of life and are bound to impact your day-to-day financial planning. However, tampering with your retirement-focused investments can prove detrimental to your money and destroy the fundamental purpose of the investment. An emergency fund should instead supplement these needs and be a part of your overall planning.