Can I retire in my 50’s?

Albermarle

 But then some with more assets than me and lower target income would probably not take the plunge and retire for fear they haven’t enough. 

Exactly, it all depends on your personality, circumstances, job situation etc.so unless you clearly did not have enough, or had far more than necessary, then someone else's opinion is just that.

If you want my opinion, I would say why not carry on working for another year or two. You are only 54 and only work part time anyway and you might live another 40 years. It might be just be enough to tip you more into the ' no fear' zone

Universidad

Albermarle said:

If you want my opinion, I would say why not carry on working for another year or two.

I'm 45, and I'm absolutely burned out. Personally, I can't imagine doing another 10 years, let alone another 23!

Lifematters

Grumpy_chap said:

Two questions, OP:

How does the retirement income of £22k compare with your current income?

Have you considered that your discretionary / leisure spending may increase when you are not working because of having more time available?

My current income is higher but I am putting the difference away in savings so know I could more than manage on £22k a year.

I do think my spending may well increase during retirement, perhaps taking up new hobbies?  I haven’t given that a lot of thought really as my thoughts are consumed with how to escape work and retire early! 

GingerTim

Only if you ask Jeremy Hunt nicely.

Kim1965

Albermarle said:

 But then some with more assets than me and lower target income would probably not take the plunge and retire for fear they haven’t enough. 

Exactly, it all depends on your personality, circumstances, job situation etc.so unless you clearly did not have enough, or had far more than necessary, then someone else's opinion is just that.

If you want my opinion, I would say why not carry on working for another year or two. You are only 54 and only work part time anyway and you might live another 40 years. It might be just be enough to tip you more into the ' no fear' zone

My numbers are very similar to yours if not identical, i am 3 years older. I will be going down to 2 or 3 days a week this summer. Providing your part time job is not too taxing, would it be a good idea to continue for a few years? 

Grumpy_chap

Lifematters said:

I do think my spending may well increase during retirement, perhaps taking up new hobbies?  I haven’t given that a lot of thought really as my thoughts are consumed with how to escape work and retire early! 

I think this is a massive thing that many people when focused on the desire to escape the current rut may well overlook.

With the extra time it is really possible to take up whatever hobbies you might like to do now (instead of the rut) but don't have the time. 
I have often said I'd like to gain a pilots licence (microlight).  That won't be cheap (nor do I expect it will ever become reality).
Even more mundane activities can soon accumulate quite an expensive tilt - say you learn to play golf, then you want to visit different golf courses, then a course means an over-night stay, then etc.

Or, maybe you will enjoy more coffee-shops trips, or last minute breaks away, or whatever.

In fact, I'd even go so far as to say, unless you have a clear plan of how you will spend your time once retired (early) then you are not ready to retire.  If the desire is to leave the rut of a current job, then a completely different job may well become the solution.  I can think of nothing worse than to retire early with no plan and then vegetate in front of day time TV while I wait for the sun to come out.