The work of Bill Schultheis has had a profound effect on us here at the Rational Reminder Podcast, and eventually having him join us on the show is truly an honour! Bill is the author of the Coffeehouse Investor series and is currently the Principal and Senior Advisor at Soundmark, in Kirkland, Washington. Throughout his career Bill has dedicated himself to helping his clients make the choices that best serve them and their particular needs, and his approach has continued to grow and improve over the decades he has been in the game. We have a wonderful conversation with Bill, charting his course from his early days on Wall Street, to writing his first book and starting Soundmark, to where is today. Bill gives us some great insider insight into the important concepts from his books and also talks about current issues in the financial world, like the impact of cryptocurrencies. Towards the end of our conversation, we get even more philosophical with our guest sharing some thoughts on what constitutes a 'rich life', and the importance of listening to your heart when it comes to your big decisions. So for this and much more from an inspiring and sensible voice, be sure to join us today! Timestamp: 0:00 - 4:07 Intro 4:08 - 7:26 Welcome Bill Schultheis! 7:27 - 11:12 Promoting a book on early index investing 11:13 - 13:45 Start of investment advice industry 13:46 - 19:48 The three ground rules 19:49 - 23:42 The Coffeehouse Investor model portfolio 23:43 - 25:09 Go full cap weighted or add in the value and the small value? 25:10 - 28:03 Do you try to change people's minds when they feel very strongly about something? 28:04 - 31:28 Cryptocurrencies and commission-free trading 31:29 - 33:30 Similarities in today and '98/ '99 33:31- 35:50 Build up wealth early on in life 33:51 - 37:45 Failure fueling success 37:46- 40:50 What do index funds do not solve? 40:51- 42:59 What is the ultimate goal of financial planning? 43:00 - 47:10 What is a rich life? 47:11 - 48:21 Biggest mistakes that people make in financial planning 48:22 - 52:21 Aligning your financial resources with your essential creativity 52:22 - 54:24 Doing something that you love 54:25 - 56:57 Thoughts on FIRE 56:58 - end How do you define success in your life? Books From Today’s Episode: The Coffeehouse Investor — https://amzn.to/3zk3xyc The Coffeehouse Investor's Ground Rules — https://amzn.to/3kG9ZLZ The Only Winning Investment Strategy You Will Ever Need — https://amzn.to/3zrJYnR Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Shop Merch - https://shop.rationalreminder.ca/ Follow us on Twitter - https://twitter.com/RationalRemind Follow us on Instagram - @rationalreminder Benjamin on Twitter — https://twitter.com/benjaminwfelix Cameron on Twitter — https://twitter.com/CameronPassmore Bill Schultheis — https://coffeehouseinvestor.com/ The Coffeehouse Investor Podcast — https://podcasts.apple.com/gb/podcast/the-coffee-house-investor/id1500655135 Burton Malkiel — https://www.marketwatch.com/story/investing-legend-burton-malkiel-on-day-trading-millennials-the-end-of-the-6040-portfolio-and-more-2020-06-22