For decades, you may have envisioned retiring at 65, relying on Social Security and Medicare. However, political changes could significantly alter this plan, affecting your financial future and retirement timeline.

Retirees born in 1960 or later no longer reach full retirement age at 65. Learn why the FRA went up, what it means for you and the possible future of the FRA.

While 62 may be the statistically optimal age to claim normal retirement benefits for lower-earning spouses, it often makes sense to wait until 67 for those planning to collect spousal benefits. That's because many view Social Security as insurance against outliving their retirement savings.