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Social Security: 2 Important Questions About Your Benefits

When it comes to Social Security, there are few questions as important as when you're eligible to apply and how much you're likely to get every month.

In the video below, Motley Fool contributor John Maxfield answers the following question from a reader:

I'm confused by some Social Security information, especially the amount I'll be receiving once I apply. I'm retiring at age 63 in Dec. 2015. Some sites are stating that I'll get $800 a month. Yet, people I've actually spoken to say I'll be getting almost three times that amount. Who should I be listening to? Also, clarify for me when I'm supposed to apply for Social Security. I was born in May. Do I apply three or six months before my birthday?

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John Maxfield
JohnMaxfield37

John has been writing for The Motley Fool since 2011. As a senior banking analyst, he covers the financial industry and the nation's largest banks in particular. He has a bachelor's degree in economics from Lewis and Clark College and a juris doctorate from Southern Methodist University. He's a licensed attorney in the state of Oregon, and resides in Portland with his wife and twin sons. View John Maxfield's profile on LinkedIn

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