How to boost your retirement income, according to expert [Video]

Although inflation in the U.S. has been on a steady decline from its June 2022 peak, Americans say rising costs are the greatest threat to their ability to live comfortably in retirement, according to an October survey from Allianz Life.

A little over 40% of respondents identify “everyday costs increasing” as the No. 1 risk to their retirement income, according to Allianz Life, which surveyed 1,000 people over the age of 25 who earn over $25,000.

Here’s a look at the top three factors Americans say pose the greatest threats to their retirement savings. (Respondents could choose more than one.)

Everyday costs increasing (42%)
Outliving money (35%)
Health-care costs (32%)

One reason Americans may be concerned about higher costs eating up their retirement savings or living longer than their savings is because many don’t have much stashed away to begin with.

About 36% of retirees have less than $50,000 saved, according to an August CNBC Your Money retirement surveyconducted with SurveyMonkey. On …