On July 4th, 2025, lawmakers passed the One Big Beautiful Bill Act, an 870-page economic package that touches nearly every aspect of your financial life, income taxes, Social Security, Medicare, estate planning, and much more.

While this bill has sparked intense political debate in recent months, I am not here to share my

personal opinions or take any sides. My goal today is to save you from reading 870 pages of

congressional jargon and clearly and objectively outline how this bill affects your hard-earned

retirement dollars. So to do that in today's

episode, I'm sharing the five biggest things retirement savers need to know about the one big,

beautiful bill. I'm also sharing a handful of miscellaneous provisions that will apply to a smaller

percentage of listeners, but are still interesting, important, and helpful to understand.

There's good news, bad news, and a few confusing twists along the way that could dramatically

affect your financial situation. So grab some coffee or something stronger if you need it,

and let's break it all down. Welcome to another episode of the Stay Wealthy Retirement Show. I'm your host Taylor

Schulte and every week I tackle the most important financial topics to help you stay wealthy

in retirement. And now on to the episode. Okay, before we dive into the weeds, I want to share

two important notes with you. First, the one big beautiful bill, which I'll mostly just refer to as the bill going forward.

The one big beautiful bill identifies some law changes as permanent and others as temporary with specific end dates.

Just know that permanent doesn't necessarily mean permanent and a change can in fact be made by a future administration and an act of Congress.

Second, this bill is massive. And if you can't already tell, it's also massively confusing. In fact, there are still many areas of this new legislation that are causing confusion in the planning community and will

require additional clarification from the IRS. So while I'm doing my absolute best to provide

accurate information to you today, please note that some interpretations could change and that

you should consult with your trusted advisors before taking any action. Okay, with that out of the way,

let's dive into the five biggest things that retirement savers need to know about this new bill.

First up, the current reduced tax brackets and increased standard deductions have been officially

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