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No, Retire Disciple just lets you throw that one away and start a new one. They don't displace any of your existing masters so you aren't increasing your total master level, which is what your fame is based upon. You generally won't need to use it except in very specific circumstances where you want a fresh disciple but you don't want to replace a current master. Or, [to put it another way...](https://youtu.be/PvY6YQH9kE4)
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