How expenses can change during retirement

Work is a major component of daily life, so much so that Andrew Naber, an industrial and organizational psychologist and an associate behavioral scientist at RAND Corp., determined the average person spends 90,000 hours at work over the course of his or her lifetime.

According to a 2014 Gallup poll, the average American retires at age 62, but roughly 64 percent of professionals bid farewell to the workplace between ages 55 and 65.

To read more, pick up a copy of the September/October issue of LiveIt magazine.