It occurs to me that my basic goals are "retirement"

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It occurs to me that my basic goals are "retirement" goals. What I want is an inflation-proof private income.

If I'm investing conservatively, what returns can I reasonably expect, in terms of dividends and interest?
I'm thinking 5%, of which three fifths are re-invested.
So €100 capital would give me €2 spending money per annum, the value of which would rise to match or beat normal inflation levels.
(Naturally the real figures will have a few more zeroes.)

The optimist in me wants to get a 6% return and have half of that for spending money, but optimism is a good way to get burned. My motto is "Round expenses up, and round profit down."

I like very old businesses with government contacts rather than startups, and am willing to invest in the USA, UK, and Europe.

So, optimism and pessimism aside, what's the reality of the rates I can expect?