Yes it's great, it's equivalent to over a million dollars with a safe withdrawal rate. I'm just saying you're probably still going to be working, not actually retired.

$40K is the figure I got from a Navy commander who's been in over 20 years. He and his family are used to approximately triple that level of income. He doesn't feel he can retire.

Lower-ranking people will be used to living on less, but will also have proportionally lower retirement pay. If you're a lower-ranking person and can get significantly higher pay in the private sector, it's not necessarily a dumb choice to go for it.