Stay awake? For you do not know the hour of the Lord's coming. In the Catholic tradition and in Jesus' teaching we speak of Jesus' coming in three ways. (1) His coming in time: He was born of the virgin Mary and came into the world. (2) His coming in Sacraments. (3) His coming at the end of time.
Of these last two, we must be ready for the Lord's coming. We must be awake and vigilant in Sacrament. This means that we must stay free of all mortal sin, the sin which blinds us. In doing so; we daily keep ourselves ready for the second coming of Christ himself. (or the 3rd way of the Lord's coming).
We must be vigilant throughout our whole lives not just of staying free from sin, but also in perservering in faith and good works.
Jesus gives the example of the stewards. If you plan well for retirement -- the last years of your earthly life -- how much more should you make your investment in eternal life. If I set aside a portion of my money every paycheck throughout my life for my retirement.... with even greater force should I set aside time in my life to pray and do good works.