Want to retire in your 50s? Here’s how to plan for it

With plenty of careful planning and consistent saving, you can increase your chances of an early escape from working life. Illustration: Sophie Winder/The Guardian

Set a target income

Retiring in your 50s can seem like a pipe dream, particularly with the high costs of living and restrictions on accessing your pension until the age of 55 – rising to 57 in 2028. However, with careful planning and consistent saving, you can increase your chances of an early escape from working life.