Regardless of what your magic number is (your targeted combination of savings and investments) before your retirement, there are things that may affect your options in retirement.
Here are the top 7 concerns:
1. no government income
2. outliving your savings
3. increased daily expenses
4. increased medical expenses
5. not being able to retire at all
6. having too much debt
7. loneliness
Some of these you can prepare for, some you cannot.
You may want to exclude any government income from your retirement income calculations. Instead, plan as if it will be gone before you retire and it will be a welcome bonus if it is available.
Be realistic in your calculations. Start with your current expenses. Add 2-3% annually for inflation. Remove debts that will be paid off before you retire and expenses that will no longer be necessary when you retire (like your commute, business attire, etc). Add things you would like to be able to do (like travel, treating the grandchildren, etc). Expect that health costs will increase.
If you have things going on in your life that make you concerned about your ability to save for retirement, think outside the box for ways to work around any limitations. Also, consider assets that could be sold or downsized to reduce expenses and create additional savings. Things like purchasing a multi-family home will give you additional income and possible social connections.
What are your current plans for retirement? Is there anything you are stuck on?