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quanticle comments on On not getting a job as an option - Less Wrong Discussion
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Yes, true. It would probably not be a good idea to attempt to retire with only one decade's worth of funds and plan never to work again. On the other hand, you could see how things go for the first 5 years and then go back to work if needed.
So would you expect a US + international market cap-weighted index fund like Vanguard's Total World Stock Index Fund (bonus: available as an ETF) to have more variance or do worse than the US stock market by itself? That would surprise me.
Or were you just saying you think the US was exceptional during the 20th century, and investors should not expect similar returns (either by diversifying across nations, or reliably picking a winning nation) in the 21st? Hmm, now I am curious what stock market returns looked like for the whole world in the 20th C.
Unfortunately I wasn't able to determine whether that particular chart took into account survivorship bias, but I did find this blog post written by the author of the book the chart was taken from, suggesting that he's at least familiar with the issue.
Will you be allowed back into the labor force? Many employers, especially in the IT industry, will almost certainly turn you away if you have an unexplained hole in your resume that's 5 years wide. Basically the only reason that can cover a 5-year gap is education of some kind (usually something like graduate education). If you say, "Oh, I just retired for 5 years, but now I'm looking for a job again," that's not going to help your chances of landing a job.
This might not be as much of a problem in IT as you might worry, especially if you have personal projects or open source contributions to show for it. It's difficult enough finding skilled developers that if your skill is in demand, a good recruiter will still go to bat for you. I'd say it harms your chances, but it won't kill a career.