Level 35 is a long ways off, but it's not an impossible goal. I'm going to do some math here, but first...
TL;DR? Retiring 6 times is the best way to get to level 35.
Now I will try to explain. If you've got a degree in math, I'm sorry. This is going to be painful.
If it takes 4 million experience to get to level 30 and then doubles every level after that, it takes 128 million experience to get to level 35. We'll simplify this and just say it takes 32 times as long to get to level 35 as it does to get to level 30.
Let y be the time it takes to get to level 35 so we can just say that y = 32, or at least it does if you go straight for level 35 as a first generation character. If we factor in experience bonuses for higher generation characters, the equation looks like this:
y = 32 / (1+x/10) where x is the number of times you have retired (NOT the generation!). If we retire 10 times we get 200% experience and can get to level 35 on generation 11 twice as fast as someone who never retired.
Of course that would mean getting up to level 31 a whole 10 times, which negates some or all of that bonus. Getting to level 31 takes twice as long as level 30, so we'll just say that y = 2 / (1+x/10) for each retirement.
If we combine this together into a nice equation that we can graph, we get an ugly thing that uses summation notation...
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loginIf we graph that, and if I'm correct, you'll see a curve representing the time it takes to get to level 35 as a multiple of the time it takes to get to level 30 (y) relative to the number of times you've retired (x). There are two minimums: x = 5 and x = 6. In both cases Y = 29.785.
In other words, if you retire 5 or 6 times, it will only take 93% (29.785 / 32) of the time to get to level 35 that it would have taken had you gone straight for level 35 without retiring. It's not a huge time saver, but it still saves some time while getting you heirlooms, plus whatever other retirement bonuses might show up in the future.
For those who are curious, you can retire up to 15 times and still make it to level 35 faster than someone who never retires (though just barely at that point). This, of course, ignores in-game factors like the experience multiplier for winning. In practice someone who retires just three times might make it to level 35 the fastest because they'll spend more time at a high level contributing more to winning and therefore getting much more experience.
If you never retired, don't fret about the guys on generation 11 getting double experience and having a huge advantage over you. Because experience doubles every level after 30, they'll only be one negligible level ahead of you.