Mr.Watkins,born in 1956,is almost 61 years old and is hoping to retire at the age of 62.Over his life,he earned an average of $75,000 per year after adjusting for inflation.The formula for calculating monthly Social Security benefits is 90% of the first $856 earned each month,plus 32% of the monthly earnings over $856 but less than or equal to $5,157 plus 10% of the monthly earning over $5,157.Mr.Watkins has been informed that his full retirement benefit will be reduced by 5/9% for every month he retires before the age of 66 years and 4 months.What will Mr.Watkins' monthly benefit be?

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The Answer of Mr.Watkins,born in 1956,is almost 61 years old and is hoping to retire at the age of 62.Over his life,he earned an average of $75,000 per year after adjusting for inflation.The formula for calculating monthly Social Security benefits is 90% of the first $856 earned each month,plus 32% of the monthly earnings over $856 but less than or equal to $5,157 plus 10% of the monthly earning over $5,157.Mr.Watkins has been informed that his full retirement benefit will be reduced by 5/9% for every month he retires before the age of 66 years and 4 months.What will Mr.Watkins' monthly benefit be?

MrWatkins,born in 1956,is Almost 61 Years Old and Is Hoping