DELAY UNTIL AGE 70
The maximum payout at full retirement age is $2,687 a month in 2017. But most financial planning experts recommend waiting even longer to start receiving benefits. For each year you hold off beyond 66 or 67 up to the maximum age of 70, the size of your monthly payment increases. Those who waited until age 70 and retired in 2017 will see a maximum benefit of $3,538. Once the benefit stream starts flowing, regardless of your age, there is no turning back; you cannot change your mind.