New Book and Website Assist Tax-Wise Use of 401k and IRA Accounts in Retirement

person putting coin in a piggy bank

From Savvy Saver to Smart Spender shows how withdrawals before age 72 can reduce taxes, countering conventional wisdom

NAPLES, Fla. /PRNewswire/ — Daniel McDonald’s new book, From Savvy Saver to Smart Spender, bucks conventional wisdom for retirees and people nearing or planning for retirement. While most people focus on saving for retirement, few consider how best to withdraw those savings when it is time to use them. McDonald’s book and website show how to make tax-wise withdrawals in retirement.

Cover of McDonald’s new book, “From Savvy Saver to Smart Spender,” which debuted as a Hot New Release in Personal Taxes and other categories at
  • How entering retirement requires a shift in thinking from being a saver to a user of savings—and how the 401(k) accounts and IRAs that were tax-deferred “friends” during the working years become taxable “enemies” in retirement.
  • Eighty percent of younger retirees wait to withdraw from tax-deferred 401(k) and IRA accounts until Required Minimum Distributions (RMDs) are due (currently at age 72). McDonald’s book and website show that this conventional approach can cause taxes to swell after age 72, and how starting withdrawals from these accounts before age 72 can reduce taxes by thousands of dollars during retirement.
  • Example scenarios of couples and singles who save anywhere from about $10,000 to more than $150,000 in income taxes during their retirement years by beginning withdrawals before 72.
  • How Social Security is taxed in retirement, and how a pre-72 withdrawal strategy can help people with assets under $1 million save more as a result.
  • How tax cuts expiring in 2026 make a pre-72 withdrawal strategy even more critical, especially for younger baby boomers.
  • How a free new tool at allows users to create a personalized withdrawal strategy to lower taxes and preserve assets.

Readers Favorite gave the book five stars, calling the writing “straightforward and clean” and with a message “dressed up as a friend advising us over a cup of coffee.” 

“I created the calculator for my own planning. Once I saw how well it worked for me, I wanted to share it with my fellow retirement planners,” said McDonald, a University of Minnesota graduate. The book is available at and

More information about Daniel W. McDonald and RTS Tech Publications LLC is at


Book on Amazon:

SOURCE Daniel W. McDonald