Crossword Genius

Risk for everyone by lake (5)

Ross

I believe the answer is:

peril

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'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" .)

I've seen this clue in The Hindu.
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