I retired as a Chief from the Navy in 1995. Air Traffic Controller Rating. Never saved much money, because of child support payments. I worked in the airline industry for a few years, and didn't like the "civilian" workplace. My child support obligation ended, my Mother died and left me a modest house and $75K. I'd never seen $75K in one place in my life, and had no idea of the value (or lack thereof) of such a sum. I quit the airline job, moved into the house (small rural town, same house I grew up in). This was in 1998.
I underestimated the cost of retirement. Used the GI Bill for supplemental income (veterans get free tuition in my state), and got a teaching degree. Around here, nobody hires 50 year old male teachers, and the disparity in real estate prices between here and the "real" world, made moving inpractical.
The airline industry is a disaster area, and any old Navy buddies for networking purposes, have disappeared after all these years.
Options, work at the usual suspects in the retail sector for $8-10 an hour, or live on my pension. I choose to live on my pension.
Moral of the story: Unless you are extremely confident in your ability to reenter the workforce a decade or so from now, I would say to seek immediate employment after your Navy retirement. It is very difficult to restart an old, or restart a new career once you enter your 50's. Especially if your work experience is entirely military and a decade or more old. These 30 somethings running HR departments, don't have a clue about the military and are not receptive.