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Social Security is the backbone of retirement for millions of Americans, but big changes may be coming. On this episode, we dive into the recently released proposal to raise the full retirement age to 69 and what it means for your benefits, your future, and your financial security. Here’s the background. Congressman Brendan Boyle asked the Congressional Budget Office to provide information about the effects that increasing—from 67 to 69—the age at which workers become eligible for full retirement benefits from Social Security would have on workers’ benefits and on the program’s finances. We’re going to take a look at the report and highlight some key takeaways that could impact planning. While no changes have been implemented yet, it’s entirely possible that Social Security will look different for you than it did for your parents. Scott will unpack what this potential adjustment could mean for your benefits and more.   Here’s what we cover in this episode: 0:00 – Intro 4:02 – Increase in full retirement age 8:11 – Penalty for taking Social Security early could increase 11:32 – Would an increase in full retirement age save Social Security?   Watch the show on YouTube: https://bit.ly/3RiT7Ky