If you do what all of the financial advisers tell you to do and take advantage of these shelters while you are in your high earning years, you may end up with a big tax bill in your 70's. Think of "poor" Mitt Romney with his $20 million balance in his retirement account in 2012. This year, he will have to withdraw over $700,000 from his account and pay income taxes on it, assuming his balance has not grown and he withdrew nothing in prior years. There is something to be said for those with even a more modest net worth retiring early early, spreading their withdrawals over a longer period of time and enjoying their remaining years of good health.