Ok, so there are a LOT of assumptions baked in here specific to the person and their moment in time, but for ballpark’s sake:
- Old retirement system
- Commissioned at ENS/ no constructive entry credit
- Serves exactly 20 yrs
- Pins on O4 at yr 11 and O5 at yr 17
- 2,537 total pts at retirement
2020 monthly basic pay for O5 w/ 20 yrs: $14,161.23
(Now, if you can correctly predict what that will be in year 20XX when you retire, you are a great economist.)
Monthly pension based on 2020 pay scales, w/ 2,537 retirement pts: $2,494.93, or $0.98 per month per point
Annually that’s $29,939.19
The 2021 social security max benefit is $3,895 per month, or $46,740 annually. Stack that to your USNR pension and you come out with $76,679 annually.
Now go find one or two rental properties (sooner rather than later) and pay off all of your various mortgages by retirement age, and you can easily clear $100k a year in retirement not doing a damn thing.
The big question though about retirement will be, will you have to ask for your bread in Mandarin or Russian while you’re waiting in the bread line?