I don't think people need a huge portfolio to retire if they are prepared to adjust their lifestyle accordingly. So the size of portfolio is not a huge issue. I have 4 primary concerns:
1. You really do have to plan for what happens if you or your wife dies. Most couples have one person who dies first, sometimes by many years. If one you died and the other lived 20 years could the survivor make it? I model this by determining expenses for one person and determining income and then running Firecalc for that situation.
2. The amount you are giving for ACA insurance seems really low. Even just for you it seems really low given your age. Please double check this. If you are considering a bronze policy to reduce cost, be sure to check the deductible which can be very high.
It would also be prudent to have a plan for what you would do if the ACA vanished.
3. I gather your portfolio is CDs and individual utility stocks. When the CDs mature you plan to buy more utility stocks. I question buying individual stocks and limiting yourself to utilities. I am more a fan of broad based index funds. I gather you are trying to emphasize dividends. I don't do that, but if I did I would buy individual stocks and would not focus only one type.
4. As ivinsfan mentioned, one problem is you no wiggle room. DH and I are not wealthy people and don't have a huge portfolio. But we have a few advantages. First we are both Medicare age so have that advantage for health insurance. We are both receiving SS and are fortunate to have relatively high SS amounts for each us. And, most importantly, we have a lot of wiggle room in our budget. There is a lot that we could cut if we needed to. We might prefer not to, but it is doable. Your budget has very little room for what you do in the event that there is some unexpected event.
