This is very conservative, even for me. What if, you were able to slum it in a home at $1MM or less, and achieve 5% returns (not very hard to do) - you have now doubled your income to $200,000 per year.
Planning super conservative is always a good approach but you should work to make your actual returns much much better.
Agree entirely in principle. However, in Sydney right now, 1mil freestanding home in not really possible in many northern nor eastern suburbs. But the focus in retirement would be as you say, to maximise returns on the investible nest egg that has to last for decades.