Reached FI at 60: How to Switch from Accumulation to Drawdown with Bill Yount

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Jan 16, 2026

In this engaging conversation, Bill Yount, an emergency physician and host of the Catching Up to FI podcast, shares his journey to financial independence at age 60. He reveals the critical transition from accumulating wealth to spending it, emphasizing the importance of crafting a sound drawdown strategy with a flat-fee adviser. Bill discusses his risk-parity portfolio, the emotional shifts involved in this process, and strategies for helping adult children build wealth. His insights prove that it's never too late to start planning for financial freedom!

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ANECDOTE

Surprise Confirmation Of FI

Bill scheduled a retirement readiness checkup with a fee-only, flat-fee planner for his 60th birthday.
The planner stress-tested their Monarch-tracked expenses and told him they had a 100% chance of success if he stopped working tomorrow.

ADVICE

Pull Two Levers: Inflate Income And Deflate Lifestyle

Downsize housing and exit car leases to rapidly increase your savings rate.
Combine income growth with deliberate lifestyle deflation to accelerate reaching FI.

INSIGHT

Preservation Beats Peak Growth Near FI

At the FI pivot point you must prioritize wealth preservation over maximized growth.
Risk parity and uncorrelated assets reduce long drawdowns that can force late starters to work longer.

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You've hit financial independence—now what? How do you actually start spending the money you've spent years accumulating? Bill Yount reached FI at 60 after a 10-year journey, and he's figured out the answer.

Bill shares his complete decumulation strategy—the detailed plan he built with a flat-fee financial advisor to transition from wealth building to wealth preservation. This isn't just theory; Bill is actively living this plan and stress-testing it in real time.

This Episode Covers:

Bill achieving financial independence at age 60
The psychological shift from saving to spending after a decade of accumulation
How to build a comprehensive drawdown plan (and why Bill hired help)
Working with a flat-fee financial advisor vs. AUM advisors
Portfolio rebalancing when transitioning to retirement
Risk parity strategy and how it fits into retirement portfolios
Stress-testing your financial plan: running scenarios to ensure you won't run out
Social security timing decisions and optimization
Retirement withdrawal strategies: the 4% rule and alternatives
How much to actually spend in early retirement
Helping your kids build wealth without jeopardizing your own retirement
Financial independence for late starters: proof it's not too late after 50
Managing the emotional transition from accumulation to distribution phase
Investment strategy changes in decumulation

If you're approaching FI, already there and uncertain about spending, or starting your FIRE journey later in life, Bill's practical, well-planned approach shows you exactly how to transition from building wealth to confidently living off it.

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Connect with Bill Yount:

Website: https://catchinguptofi.com/

Instagram: https://www.instagram.com/catchinguptofi/

Connect with Scott and Mindy:

Scott: https://www.instagram.com/scott_trench/

Mindy: https://www.instagram.com/_mindyatbp/

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