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Investors planning for retirement (and it’s never too early to start) certainly have plenty of financial headwinds to consider when it comes to executing a tailored strategy to their own unique situations. From rising costs of living to volatile markets and economic uncertainty (I wish I had a crystal ball), investing involves plenty of forms of risk.

Investing for retirement is great, but how one chooses to put capital to work right now matters a great deal.

For those looking for ways to maximize their retirement planning journey, here are three tips most financial experts will pound the table on as ways to think about constructing one’s portfolio.

Some investors get rich while others struggle because they never learned there are two completely different strategies to building wealth. Don’t make the same mistake, learn about both here.

That said, as most investors are well aware, failing to invest and watching one’s dollars lose purchasing power sitting on the sidelines can be an even more painful reality. Thus, most financial experts will tell those looking to retire at any point in the future to consider putting at least a significant chunk of one’s savings into assets that can appreciate over time.

Expectations are that the median American household will need around $1.5 million to retire comfortably - a figure that varies greatly with one’s locale. Indeed, at a 4% “safe” withdrawal rate, that $1.5 million will only go so far, providing investors with around $60,000 of income to be supplemented by other forms of income (social security, pension, rental, other income) over time. I’m still on the younger end, and given where inflation has been of late, I think that number is going to get a lot larger over time.

So, for those looking to grow their portfolio into a seven figure (or higher) passive income stream in retirement, here are three strategies I’ve found most helpful to me in how I think about setting my own portfolio up for success.

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Portfolio diversification visual on a tablet.

Portfolio diversification are two words that can bring about a blank stare from some investors. Many may think - I put everything into a market index ETF - that’s diversified, right?

Well, maybe for a portion of one’s equity portfolio. However, I know there are many financial experts out there who would pour at least some cold water on that idea. Indeed, given the fact that **Nvidia **(NASDAQ:NVDA) recently jumped to account for roughly 8% of the entire S&P 500. That means that the other 499 companies accounted for the other 92%. When you add in Microsoft into that calculation, that number is closer to 15%.