Risk for everyone by lake (5)
I believe the answer is:
peril
'risk' is the definition.
(synonyms)
'everyone by lake' is the wordplay.
'everyone' becomes 'peri' (I can't justify this - if you can you should believe this answer much more).
'by' says to put letters next to each other.
'lake' becomes 'l'.
'peri'+'l'='PERIL'
'for' acts as a link.
Can you help me to learn more?
(Other definitions for peril that I've seen before include "Immediate danger" , "Danger, hazard" , "Quest" , "Exposure to harm" , "Danger, jeopardy" .)