How to retire at 55: 8 tips
8 tips for an earlier, wealthier retirement
Transforming that dream into a reality doesn’t come cheap, how could you afford it? Once you have paid off debts, like it or not, the answer is likely to depend on your pension.
Our straightforward guide provides eight tips that could help you to retire earlier than you thought, including:
- The simple formula for how much you should consider investing each month
- How to boost existing pensions
- Understanding the options available at retirement
This guide is not personal advice but we can offer advice if specifically requested. What you do with your pension is an important decision, which could be irreversible. Make sure you understand your options and check they are suitable for your circumstances: take appropriate advice or guidance if you are unsure.
The Government's free Pension Wise service can help. It provides impartial guidance face-to-face, online or by phone - more on Pension Wise. The value of investments can fall as well as rise so you could get back less than you invest. Pensions cannot usually be withdrawn until age 55 (increasing to 57 in 2028).