Operation Retirement in Fourteen... Errrrr.... Fifteen Years Maybe?

I'm already changing my mind about the timing of my retirement.  I was pretty convinced that I would retire in fourteen years once I paid off my mortgage.  I was thinking I could fulfill two dreams at once:  burning my mortgage documents and quitting via cake.

But the more I thought about it, I think the better plan would be to retire in fifteen.  I think I need the final year as a "test-run" to see what my true cost of living sans old major expenses would be and to plan for new major expense (e.g., health insurance, long term care insurance).  I did some rudimentary math to see what my anticipated cost of living (assuming 4%/year inflation) might be compared to now.

My monthly expenses currently run around $4,600/month.

Payee	2014
Credit Card	$     520.00
Cable + Cell + Massage	$     319.00
Monthly Living Expenses - Food, Gas, Entertainment, Misc.	$     800.00
DOE (Student Loans)	$     360.00
Mortgage	$   1,289.00
HOA I - Subdivision	$     290.00
HOA II - Master Assoc	$       30.00
Bank of Mom	$     225.00
Prop Tax	$     375.00
Gas & Electric	$       55.00
Life Insurance	$       48.00
Auto Home/Insurance	$     185.00
EF	$     100.00
TOTAL (Monthly)	$   4,596.00
TOTAL (Annual)	$ 55,152.00

In 2029, I'm expecting my monthly expense will run about $5,290.91/month.  It's a bit hard to foresee what other expenses I might have then that I don't have now.  Hence, why I think an additional year in the workforce would be helpful.

Anticipated Expenses	2029
Healthcare	$     742.85
Cable + Cell + Massage	$     571.01
Living Expenses	$   1,432.00
LTC	$     644.40
HOA I - Subdivision	$     519.10
HOA II - Master Assoc	$       53.70
Prop Tax	$     671.25
Gas & Electric	$       98.45
Life Ins	$       48.00
Auto/Home Ins	$     331.15
EF	$     179.00
TOTAL (Monthly)	$   5,290.91
TOTAL (Annual)	$ 63,490.92

My exercise above was to see whether I can live just of off the dividends I earn in my 401k, Roth IRA and traditional IRA.  Assuming a 2% dividend yield (pretty much what I'm earning now) and an projected balance in my 401k of $1.4 million, I'll run out of funds in my 401k when I'm about 85 years old (taking into account I claim Social Security at age 72).  If the dividend yield goes up to 3%, I'm golden indefinitely.

This is a wake-up call that I need to get more serious about increasing my savings rates.  ... And not getting fired in the mean time.