Keep a generous amount of your savings in the stock market, but make stocks only part of your retirement income plan to manage the risks.

Gambling can be a fun little pastime between friends — or a disaster.

There’s a difference, for example, between losing a $100 bet on your favorite NFL team and running out of money at age 90.Over the long term, stocks outperform bonds. So, stock market investments should be one component of a plan you use to prevent your savings from running dry before the end of a retirement that can last 20 or 30 years or longer.

Manage retirement risks
View to different colored game dices and a dice cup on a wooden table.

Some of the planning advice you might get about how to allocate your savings, however, may not fully address the risks of these investments. And the amount of savings itself will not guarantee your retirement.