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

Managing the taxes on a growing retirement portfolio can be daunting. With projected growth from $5 million to $8-9 million, strategic planning is essential to mitigate a high tax burden.

Investors should consider diversifying their portfolios and exploring options like Roth conversions, which can significantly reduce potential tax liabilities as they approach retirement.

Read at 24/7 Wall St.