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?