Review of From Savvy Saver to Smart Spender

[Melisa Jane]

[Following is an official OnlineBookClub.org review of "From Savvy Saver to Smart Spender" by Daniel W. McDonald.]

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4 out of 4 stars

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From Savvy Saver to Smart Spender: How to Pick a Tax-Wise Retirement Withdrawal Strategy is a retirement financial guidebook written by Daniel W. McDonald, an experienced intellectual property lawyer and tax expert. It targets US citizens who are about to retire and have accumulated retirement savings in accounts such as 401(k) and IRA. This book is based on the fact that the withdrawal plan you choose has a direct correlation to the amount of money you can save--or the lack thereof. Looking at both tax-deferred and already taxed accounts and combining various strategies and approaches, the author aims to help readers ease their tax burden and make savings just by employing a tax-smart withdrawal plan for their accumulated hard-earned retirement money, and this involves no additional risks or investments. I immensely enjoyed it.

There were several things I liked about this book. First, I liked the short, precise chapters. The information is condensed and presented without unnecessary details, making it easy to follow. Second, the strategies and approaches discussed were also laced with specific examples and relatable personal experiences. Third, I also loved the summaries at the end of the chapters, as they reinforced what the readers had learned so far. Fourth, recaps at the beginning of the chapters also further enhanced my understanding of the previously presented concepts. Fifth, this book has citations provided as footnotes with active weblinks; should need be, readers can click them for further reference. This book also provides readers with a Tax Saver tool, a web resource that readers can use to run simulations of various withdrawal strategies. Therefore, one does not need to be a "numbers guy" to benefit fully from this book. Provided you have the inputs for your specific retirement circumstances, you are well sorted out, as the simulator does the calculations for you. I also liked that this book not only talks about the strategies but also takes readers through the implementation and review processes. This means it is not just empty guidance, making it both practical and useful.

My favorite aspect of this book were the specific examples and a wide variety of scenarios presented in this book. Individuals with unique income levels, sources of income, ages, and circumstances were all covered. Adding to the usefulness was the fact that the approaches even take into account factors such as inflation and appreciation. Moreover, singles and couples who file tax returns jointly were also given special coverages. All this, together with the author's apparent enthusiasm and knowledge of the subject matter, added to my enjoyment of this work.

Overall, I didn't find anything to dislike about this book. I believe it was professionally edited, as I found only one error. Therefore, I am pleased to give it four out of four stars. This book deserves the highest rating for its sound advice, impeccable presentation, and professional editing.

I highly recommend this guide to the young Baby Boomer savers, as they are the biggest beneficiaries of the strategies discussed in the book. They are in the prime position to benefit from the approaches and strategies discussed herein since they have a few years before they reach the age of 72, and there are reasons to begin implementing your tax-smart withdrawal plan before that age. This book will save you from unnecessarily losing your hard-earned retirement money to federal taxes, and the earlier you read it before 2026 (when there is a scheduled tax increase), the better.

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From Savvy Saver to Smart Spender
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[Oluoma Chukwu]

It is always important to plan our retirement early on in our careers to avoid being met with a poor retirement plan at an old age. I would recommend this book to my parents. Thank you for your beautiful analysis.

[Doris Nzeket]

I like the fact that the author had inflation and appreciation in mind when writing this book. The former, especially, can take anyone off guard if not taken into consideration when planning for retirement. Many people lately are planning to retire early so I think this book will be useful to many people. Your review is simple and easy to understand.

[Bri Denzel]

A retirement financial guidebook will be best for people planning for retirement. I encourage them to pick this up.

[Rodino Baabo]

Nice book

[Rebecca De Figueiredo]

The book goes into financial planning in quite a detailed way. There is no doubt, especially after reading the reviewers summary , that this is the book to read, if we want to introduce a more aware, savvy financial system into our lives.

[Ajay Pratap Singh Tomar]

This review is detailed and insightful, highlighting the book's practical guidance, concise presentation, and helpful resources like the Tax Saver tool. The reviewer effectively emphasizes the book's applicability, particularly for Baby Boomers, and praises its editing quality. The recommendation to act before 2026 adds urgency, making the review both informative and persuasive.

[Sushan Ekanayake]

"From Savvy Saver to Smart Spender" by Daniel W. McDonald is a game-changer for retirement planning! Packed with tax-smart strategies, real-life examples, and practical tools like a Tax Saver simulator, it’s a must-read for anyone looking to maximize savings and minimize taxes. Congratulations on being BOTD!

[Seetha E]

A concise book to help people address their "withdrawal symptoms" and save thousands of $$$ with a little planning before the scheduled tax increase slated for 2026. The information will equip readers plan better. The tax saver simulations tool is appealing.

[Leen282]

Since it is US-focused, this book has no immediate benefit for me. Having said this, I am very interested in reading such books for the country I am living in, to learn what makes sense from a tax perspective on how to approach retirement.

[Ukaegbu Confidence]

From Savvy Saver to Smart Spender: How to Pick a Tax-Wise Retirement Withdrawal Strategy is a financial guidebook that transforms your spending and savings life for the better.

[D Christina]

I loved your review, and the book sounds very beneficial to a lot of people. I'm more into sci-fi/fantasy, so I didn't even know books like this existed! I commend the author for using their knowledge and expertise on taxes to help others.

[Celena B]

Financial reads are among the list of "Don't touch" for me , however, after seeing the superb breakdown of the book in this well-written review, I think I could actually read this book and come away much more educated -- thankfully so, as the husband and I are closing in on 50 , and we can sure use some guidance with the "game of retirement."

[rusyalana]

Non fiction, self-help books are not my cup of tea but the review is well written. The information in the book is organised in short chapters providing thus the unwavering attention with the summary of the most important facts. I'm sure the book will find its reader. Congratulations on becoming BOTD!

[Alida Spies]

Saving on tax is always a wonderful option. I don't live in the US and already executed pension options, but it looks helpful to US citizens.