ARA Review by yachtsee of From Savvy Saver to Smart Spender

[yachtsee]

[Following is an OnlineBookClub.org ARA Review of the book, From Savvy Saver to Smart Spender.]

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5 out of 5 stars

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From Savvy Saver to Smart Spender: How to Pick a Tax-Wise Retirement Withdrawal Strategy

As a baby boomer, and someone with a few years left to devise a withdrawal strategy before I reach the mandatory RMD (required minimum distribution) age of 72, I appreciated the advice in this book because it presented so many options I’d never considered before.

Also included, is a very good explanation of all the reasons it may not be advisable to follow the conventional approach of delaying withdrawals until your RMD age.

The strategies are especially relevant for young baby boomers who have the most to gain from timed withdrawal strategies. They’re able to take taxable withdrawals in lower tax brackets, before they hit RMD age. And in doing so, they are best able to keep taxes down post RMD age.

Several chapters are devoted to case studies of fictional investors. The different scenarios presented made the strategies easier to understand. I was confused with some of the strategies before reading the case studies, so these chapters were very helpful and my favorite chapters in the book.

The latter third of the book is devoted to devising a strategy for your own particular circumstance with the guidance of the author. He also provides a link to run your own strategies through his retirement savings calculator on his web page.

Everything is well documented, researched, and updated for 2023, with many links to other sources for follow-up reading. Reviewing and revising your tax savings plan annually is recommended and this book is perfect as a reference for doing that.

I’m rating this book 4 stars out of 5 stars because it was full of very practical information and strategies to avoid legally paying taxes during your retirement years when you most need the income. Also because the information was presented in an understandable manner that even beginners like me can understand.

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