First scoping questions: Are you staying where you retire? What is the market there for employment, either working for someone or for yourself? If moving, to where and same questions. Have you determined your absolute mins for income/lifestyle?
Been out for 9 years now (finished out as an AGR), did defense contracting and now GS.
Original plan was for wife (retired within 6 months of me) and I to run a B&B in Sedona. Turn-key place, year 'round 85% occupancy rate.
Unfortunately, I was in DC and had A) kid in #1 high school in nation (Thomas Jefferson) and B) retired at the height of the housing market crash. Was over $100K upside down on my DC house and couldn't afford to walk from that AND pick up the business loan on the place in Sedona. So...switch to back-up plans to pay bills. Wound up staying in DC area for another four years. Ugh... Escaped to Omaha and now Nellis.
Started out as a contractor for Boeing; switched to GS for salary and security.
For profit, except for working for myself, wasn't attractive since the lay-off factor was high then as well as capricious now. I'm all about capitalism but the realities of being fired/laid off for reasons beyond my control, i.e., I'm canned not because I didn't do a good job but just because (like most people do, I realize) wasn't working for me after 20 years of a guaranteed paycheck.
Basically, I consider(ed) myself institutionalized. Being stuck in DC made that an easy mode to enter.
GS in agencies other than DoD, in my experience, sucks. No sense of mission, no sense of team, nothing but "I got mine." Especially nothing about the taxpayer.
Don't get me wrong, I saw unbelievable waste and "I got mine" in DoD as well and it frustrates(d) me. But there was still that core of dudes/dudettes that care about the mission despite the Man. Unfortunately, for fifteen years I was at Air Staff or above levels. Empire building and not making waves are the currencies there so I wasn't happy nor considered a team player.
I'm now at the squadron/base level and enjoy it much more. Even if the folks in uniform, as a rule, dismiss civilians, being a part, however small, of making the mission happen is rewarding.
edited to add: Not meaning to derail the thread. Wanted to give one perspective on defense contracting and GS route as an alternative to a guy who is able to go airline and is asking for alternatives. I could not (without spending a metric sh1t-ton of money and time I didn't have to get my quals).