A key step in retirement planning is figuring out how much you will collect from Social Security. If you start benefits in 2015 at 66, now the full retirement age for those benefits, the most you’ll get is $2,663 a month. That’s just under $32,000 a year. Waiting until age 70 to collect will raise the highest annual payout to about $42,000. You can start Social Security as early as age 62.