As you approach retirement, particularly within a five-year horizon, it's crucial to reassess and fine-tune your financial strategy. A thoughtful approach during this period can significantly impact your future financial comfort. This involves not only boosting your savings but also meticulously evaluating your current financial health and adjusting your investment portfolio to mitigate potential risks. For instance, individuals utilizing automated financial tools like robo-advisors or target-date funds might find that their investments are already undergoing systematic adjustments to align with a more conservative retirement outlook.

A critical initial step involves gaining a clear understanding of your current financial landscape. This begins with calculating your net worth, which provides a comprehensive snapshot of your assets versus liabilities. With this figure in hand, you can then scrutinize your existing retirement contributions. The aim is to fully utilize various accounts such as individual retirement accounts (IRAs) and brokerage accounts. Moreover, consider supplementing these with high-yield savings accounts once your primary retirement contributions are maximized. Simultaneously, it’s imperative to project your future income requirements during retirement, accounting for all anticipated expenses from housing and healthcare to leisure and potential long-term care needs. This foresight allows for a more realistic and achievable financial plan, which can be further refined with the assistance of financial planning tools or professional advisors.

With retirement on the near horizon, typically for those in their 50s or 60s, a strategic shift in investment approach becomes paramount. This involves prioritizing lower-risk investments over more speculative ones. Leveraging the IRS's catch-up contribution allowances for 401(k)s and IRAs is a smart move, enabling you to significantly increase your savings as retirement draws closer. Additionally, reallocating your portfolio from high-growth, high-risk assets like certain stocks to more stable, income-generating options such as dividend-paying stocks, certificates of deposit (CDs), and U.S. Treasury securities is advisable. These conservative instruments, though offering lower returns, provide greater capital preservation, which is key in the pre-retirement phase. Collaborating with a financial advisor or utilizing platform-managed funds can help ensure your investment mix aligns perfectly with your retirement timeline and risk tolerance.

Ultimately, diligent and proactive financial management in the years leading up to retirement empowers individuals to secure their future. By assessing one's financial standing, accurately forecasting future needs, maximizing contributions to retirement vehicles, and strategically shifting investment portfolios towards lower-risk assets, a robust foundation for a comfortable retirement is established. This disciplined approach not only safeguards accumulated wealth but also instills confidence, allowing individuals to embrace their golden years with peace of mind and financial stability.