Reached FIRE at 60: How to Transition to Drawdown

Описание: Episode #710
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How do you actually spend your money after reaching financial independence? Bill Yount from Catching up to FI achieved financial independence at 60 after a 10-year journey. Today he's sharing his complete decumulation strategy—from portfolio adjustments and withdrawal tactics to social security timing and helping his kids build wealth. In this episode of the BiggerPockets Money Podcast, Bill breaks down how he transitioned from wealth accumulation to preservation mode, the flat-fee financial advisor who helped him build a comprehensive drawdown plan, and his exact strategy for living off his investments without running out of money.

Mindy Jensen and Scott Trench cover Bill's complete retirement drawdown and withdrawal plan, how he stress-tests his financial spending, the role of risk parity in his portfolio, social security optimization, and how to balance helping adult children build wealth while protecting your own retirement. Bill also shares practical advice for late starters—proof that reaching FI after 50 is absolutely possible with focused effort and smart planning.

Whether you're a late starter to FIRE, already financially independent and wondering how to spend your money, or planning your own drawdown strategy, Bill's practical approach offers a clear roadmap for transitioning confidently from building wealth to living off it.

00:00 Bill Yount’s Achieves FI at 60!
01:02 Catching up to Financial Independence at 50
03:55 Decumulation Strategy
07:40 Portfolio Construction and Risk Management
18:08 Order of Operations for Decumulation
22:30 Balancing Work and Financial Independence
26:54 Engaging Family in Wealth Building
27:12 Gift Tax Exemption and Retirement Contributions
29:32 Retirement Spending
31:16 Planning for Big Expenses in Retirement
32:58 Social Security Timing and Health Considerations
34:53 Choosing the Right Financial Advisor
40:09 Transitioning to Retirement
42:20 Connect with Bill!