Inflation and interest
Finally, there are also the current challenges of inflation and interest rates when attempting to gain sufficient savings to realistically retire at 55. In a sense, these challenges have always been present and are nothing new to the investor. However, with the Bank of England base rate currently so low (and likely to remain so from 2020) it will be difficult to generate significant interest growth via regular savings accounts which outstrip inflation.
To create additional wealth, therefore, those wishing to retire at 55 will likely need to seek financial advice early on, about how to construct a strong investment portfolio which carries them towards their goals.