As you approach and enter retirement, there are some important ages to be aware of. For example, your full retirement age, at which you're able to start receiving the full benefits you're entitled to based on your earnings history, is 67 for those born in 1960 or later. (Despite that, you're able to start collecting smaller benefit checks as early as age 62 or bigger ones if you delay up to age 70 -- so you'll need to think through the issue of when to claim Social Security carefully.)

Meanwhile, age 65 is when you'll be able to sign up for Medicare, which is a very big deal in this age of extremely costly healthcare here in the United States. One of the most important things to know about Medicare is that if you don't enroll in it on time, you can end up paying a hefty penalty -- for the rest of your life.

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Source Fool.com