Social Security beneficiaries will see a 5.9% increase to their monthly checks in 2022.
That's much more than the 1.3% adjustment made for 2021, and the largest increase since a 7.4% boost in the 1980s.
Check out this video to see how much money this will add to your benefits and to see more about how the increase compares with other changes in the past.
More from Invest in You:
How Walmart and other big companies are trying to recruit more teenage employees
Americans are more in debt than ever and experts say 'money disorders' may be to blame
How much money do you need to retire? Start with $1.7 million
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.