I'm 56 and suddenly have $5 million in my 401(k) - how should I think about retirement?

Managing the taxes on a growing 401(k) approaching retirement is crucial, especially as significant growth can lead to substantial tax liabilities that need strategic planning.

Diversification and Roth conversion are two important strategies to help mitigate tax burdens on a growing 401(k), allowing for better tax efficiency as retirement nears.

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