The Long View

Bill Yount: How Late Starters Can Find Financial Independence


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Our guest on the podcast today is Bill Yount. Bill is a practicing emergency physician. He’s also co-host of a podcast called Catching Up to Fi, where he and Jackie Cummings Koski discuss pursuing financial independence later in life. Bill received his bachelor’s degree from Duke University, his doctor of medicine degree from the University of North Carolina at Chapel Hill, and completed his residency in emergency medicine at Northwestern University.

Episode Highlights

00:00:00 From a Scarcity Mindset to the Hedonic Treadmill

00:10:04 The Wake-Up Call: Burnout, Lawsuits, and Turning 50

00:11:05 Finding FIRE Late: Catching Up to Financial Independence

00:13:44 Budgeting, Downsizing, and Boosting Savings Rates

00:20:56 Landmarks on the Way to Financial Independence

00:25:50 Life Planning, Risk Parity, and Calibrating Safe Withdrawals

00:34:51 Achieving FI and Knowing When It’s Time to Retire

00:43:44 Building Generational Wealth, Giving Early, and Advice to Late Starters

More From Morningstar

My Baptism by FIRE: Lessons on Financial Independence

The Best Retirement Strategies for Leaving Money Behind

Cliff Asness: ‘The Problem Was Never Beta. The Problem Was Paying Alpha Fees for Beta’

If you have a comment or a guest idea, please email us at [email protected].

Follow Christine Benz (@christine_benz) and Ben Johnson (@MstarBenJohnson) on X, and Christine Benz, Amy Arnott, and Ben Johnson on LinkedIn. Visit Morningstar.com for new research and insights from Christine, Ben, and Amy. Subscribe to Christine’s weekly newsletter, Improving Your Finances.

If you want more Morningstar podcasts, check out The Morning Filter and Investing Insights.


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