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Millions of Americans associate the number 65 with the end of their working years and the start of what they hope is a long and pleasant retirement. But why 65, as opposed to younger, older, or never? Joe and Mark trace the history of social insurance programs, including the American and European precursors to Social Security; discuss how and why 65 became the magic number; and ponder whether full retirement age (which is now 67 in the U.S.), benefit levels, or payroll tax revenues will have to change to accommodate increases in life expectancy. (Recorded February 6, 2026.)