If you are like most of the workforce today, you would love to retire ten years early, but you never try to find out how to retire at 55. The truth is that retiring at 55 is not that much more difficult than retiring at the standard age of 65. You simply need to have a plan and work a little harder than your peers. By following these steps, you will be able to plan and save so you can retire at 55.

1. Determine how many years you have until you turn 55. Just subtract your current age by 55. The number you get is the number of years you have until retirement. Keep this number close by; you will need it later on.
2. Calculate how much money you will need in order to retire. In order to come up with this amount, you will need to determine how much you can comfortably live on every year. Once you get this number, multiply it by how long you expect to live after retirement. Then adjust that number up about 5% to account for inflation. This is how much you have to save by the time you are 55.
3. Divide the amount of money you need to save for retirement by the number of months you have until you retire. To get the number of months you have until retirement, multiply the number you got in step one by 12. This will give you how much you need to save every month to reach your retirement goal.
4. Start living on a budget in order to save enough money every month to retire at 55. If you do not already have enough money to save every month in order to retire by age 55, you are going to have to start cutting back on expenses. Reduce your cable bill, start clipping coupons, reduce your utilities, and cut back your cell phone bill. See if doing these things will free up the money you need to save every month.
5. Make extra money if you cannot find enough money in your budget to reach your goals. See if you can find a second job on the nights and weekends. Start babysitting or even freelance doing your current job. Whatever you do, just make sure the money you bring in goes into your retirement savings and not for other things.
6. Diversify your investments to avoid losing your hard earned money. Too many people learn the hard way when they put all of their savings in one stock or market and then lose everything when the market crashes. Do not make this mistake. Spread your investments out between stocks, bonds, mutual funds, property and high-yield savings accounts. Doing so will make sure that one bad investment does not ruin your dream of retirement.
7. Continue to invest and save until you retire at 55. You will never be able to retire comfortably if you let life get in the way of saving and investing for your retirement. So make it a point to never stop. Remember that the hard work you are doing now will pay off in the long run.