Retired soak holds too much sway (6)
I believe the answer is:
totter
'sway' is the definition.
(tottering is a kind of swaying)
'retired soak holds too much' is the wordplay.
'retired' shows that the letters should be reversed in order.
'soak' becomes 'ret' (ret can mean to soak in water).
'holds' indicates putting letters inside.
'too much' becomes 'OTT' (short for over the top).
'ret' written backwards gives 'ter'.
'ter' enclosing 'ott' is 'TOTTER'.
(Other definitions for totter that I've seen before include "Maybe a mathematician" , "Walk unsteadily - nearly fall" , "Move unsteadily; be about to fall" , "Stand/walk unsteadily" , "I add" .)