At some point, we all want to stop working. We just want to retire.

We want to spend time with our kids, our grandkids.

Unfortunately, for many of us, even the thought of being able to retire has been pushed back again and again. And that shouldn’t happen at all.

But there is one way to ensure that you can retire once and for all.

You just have to keep your nest egg well protected, especially in volatile markets, as we've seen. As every one knows, the stock market is a fickle beast. Gains seen today can be losses tomorrow putting even more pressure on you to make sure your savings are strong.

But these are some ways to consider when protecting that nest egg.

No. 1 – Determine how much income you need

Paint a realistic picture of your potential spending habits going forward. For example, you’ll want to plan for the unexpected – maybe your child needs financial help at some point. Mulling over every possible scenario could help you figure out what you may need to withdraw from your nest egg to remain personally well funded.

Work on a comprehensive financial plan with an advisor, for example that addresses worst case and best-case scenarios. Part of that plan should include a realistic projection of how much money you may need to pull from your portfolio over a five to 10-year period.

No. 2 – Diversify Now

Remember, the types of investments you choose will always depend on how much risk you’re willing to take. However, if protecting your nest egg is important to you, your portfolio should also include cash and other liquid assets that can be converted to cash if need be. You may also consider having a cash reserve to pay personal expenses until the rest of your portfolio can recover from a potential market downturn.

Another way is to diversify your portfolio with a safe mix of stocks, bonds, and cash savings, including money market accounts, CODs, and even mutual funds. You may even consider short-term government bonds, as well as corporate bonds with short maturity dates and higher yields.

No. 3 – Never Allow Emotion to Guide You

When stocks fall, you impulsively want to pull all your money and run. That’s a given. Unfortunately, many investors choose to sell everything once a downturn gets underway. That’s a bad move that can be costly. You’re much better off staying the course even in rough seas. Ride it out. As we’ve seen with recent pullbacks, markets are resilient.

Bottom line – markets will always experience bumpy ride. But if you follow a set plan with a trusted advisor, you’ll be just fine.