For many people, retirement planning feels abstract until the calendar makes it unavoidable. But the five years leading up to retirement are unique and extremely important to consider in your planning. Find Out: The Realistic Minimum Retirement Savings Needed, According to Experts Read Next: 5 Clever Ways Retirees Are Earning Up To $1K per Month From Home Financial planners and estate experts said the choices you make here often determine whether you have a comfortable retirement or a restrictive one onc ...

Roth conversions are often described as a smart move for retirees who want tax-free income later in life. But the same strategy that creates long-term savings for one household can trigger higher taxes, Medicare premiums or lost deductions for another. Cristina Wiebelt-Smith, a CFP and wealth advisor with Gertsema Wealth Advisors, said, “With Roth conversions, the name of the game is cutting Uncle Sam out of the equation and keeping as much of your hard-earned money as possible.” Here are the circumstance ...