The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

Listeners are encouraged to seek out their own advisors in these areas.

Hello everyone and welcome to the Big Picture Retirement Show,

where we deliver insight on what you need to know for a meaningful and successful retirement.

If you are planning for or living in retirement, this is the show for you. I'm Devin and with me today is John Ross, my co-host.

Hey John. Howdy. So John, we did an episode that was covering the tax cuts. We knew there would likely be some changes. It looked like it was going to pass. And sure enough, it did pass and with some of those changes. It did pass. Some of the things that we talked about were in there. Some of the things that we talked about were not. Right. So I think it's very important that we go back and inject this episode right here at the beginning of the year. Although I'll have to say we had an excellent episode already recorded, planned,

how to make 2018 your best year ever.

You know, it kind of sounds like a Joel Olstein topic, doesn't it?

It does a little bit.

I don't think that was intentional, but it's a great episode where we talk about getting

organized and doing some phenomenal stuff with your finances. But that's going to be next week. So come back

next week to hear Joel Olstein is our special guest. Not really. He's not going to be on the show.

It's just a topic that sounds like it was borrowed from him. Yeah. Anyway, so let's dive into what was

passed as the final version of this tax cut.

And let's talk about some of the high points and how it's going to impact the folks listening to this show.

Right.

I think probably the thing that applies to the vast majority of the people out there is the idea, I think, behind all of this was to simplify, not necessarily simplify the tax

code. There's just nothing about any of this that simplifies the tax code. Right. As Ted Cruz,

I think, was quoted at one point as saying that there are more words in the tax code than there

are in the Bible. And this is a true statement. And none of this changed to any of that.

It just added more words. That's all it really did. But there was the idea of simplifying the reporting

on an individual basis. And the idea here was to exchange, you know, all the people that were itemizing their deductions

...