USA: The largest COLA hike in 40 years is coming to Social Security in 2022 --- what that means for your retirement

The cost-of-living adjustment in 2022 will be 5.9%, according to the Department of Labor. It will be the largest increase to COLA in 40 years, and a boost to Social Security beneficiaries’ checks.

For more than a decade, these adjustments have averaged below 2%, which in many cases has done little for Social Security beneficiaries – or nothing, in instances when their expenses have risen dramatically but their benefit checks have barely adjusted for inflation.

Read more at: The largest COLA hike in 40 years is coming to Social Security in 2022 --- what that means for your retirement - MarketWatch