re: Retirement Income Goals for planning purposes.

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Champagne

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Start itemizing your expenses, which it sounds like you already have, and create two expense categories, essential and discretionary. If you are 10 to 15 years out, for now, figure on aging in place and that the home is paid off. Next, adjust the budget including the discretionary expenses for inflation. Academics have been using 3% but some are using 4 %. If you really want to get in the weeds you can use different inflation adjustments for healthcare, food, and housing, ect... but I would keep it simple. Reexamine your budget every year or at least every other year until you get closer to retirement.

Next question is will you have the assets to fund your number?