I am waiting until I turn 70 to collect SS Retirement benefits. I turn 70 December 26, 2021. I understand I can apply up to 4 months before I want benefits to start. Does that mean I can apply as early as August or September? Also do I indicate that I want my benefits to begin in the month I turn 70 (December) to get the maximum amount and expect my first payment to begin in January 2021 as SS pays one month in arrears?

Hi. Yes, you could file your application as early as August 1st, and you'd want to select December as your month of election to start benefits. You will then receive your maximum possible benefit rate even though you don't reach age 70 until late in the month. Your payment for December will be scheduled to arrive on the 4th Wednesday of January since you were born after the 20th of December (https://www.ssa.gov/pubs/EN-05-10031-2021.pdf).

Best, Jerry