Many people assume that their living expenses won't be as high in retirement as they are during their working years. And for many expense categories, that's a fair assumption.

If you no longer have a job to commute to, you might save a fair amount of money on gas, vehicle maintenance, parking, and even auto insurance. And if your mortgage is paid off by the time you retire, the amount you spend on housing might shrink substantially as well.

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Source Fool.com