Social Security's Big Raise Affects 1 in 5 Americans. Here's What It Means for You

Currently, an estimated 20% of Americans are on track to see more money coming into their households next year. That's because one out of every five Americans receives some type of Social Security payment, either through retirement benefits, spousal benefits, or survivors benefits.

Social Security recipients are slated to get a 5.9% raise in 2022, which is the largest year-over-year benefits increase in four decades. But for the millions of Americans who will get that bigger payment each month starting next year, will it actually make much of a difference in improving their financial circumstances?

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Source Fool.com