Preview Mode Links will not work in preview mode

A weekly reality check on sensible investing and financial decision-making for Canadians. Hosted by Benjamin Felix and Cameron Passmore.

Jul 22, 2021

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!


Key Points From This Episode:

  • Bill's upbringing on a farm in Washington with a large family. [0:04:16.2]
  • The route that Bill took to publishing his first book as a way to share the wisdom of indexing. [0:06:40.7]
  • The beginnings of Soundmark and the first clients that Bill started helping. [0:10:13.4]
  • Bill's most recent book and the three ground rules it lays out for readers. [0:12:36.3]
  • Unpacking the 'coffeehouse investor' model portfolio. [0:18:20.7]
  • How Bill approaches and explains diversification to his clients. [0:21:54.7]
  • Thoughts on presenting data and challenging strongly held views from clients. [0:23:14.1]
  • The impact of cryptocurrencies and commission-free trading on indexing. [0:25:53.6]
  • Comparing the commonly held investing approaches of now and the 1990s. [0:29:01.0]
  • The approaches to wealth building that Bill recommends to younger people. [0:30:52.7]
  • How a persistent attitude served Bill when looking for a publisher for his book. [0:33:07.4]
  • The basic strengths and weaknesses of index funds. [0:34:56.3]
  • Bill's idea of a 'rich life' and what this means to him. [0:39:55.2]
  • How to 'dial in your power settings' with your financial planning and common mistakes to avoid. [0:41:19.2]
  • Listening to your heart and finding the financial and professional life that feels right. [0:44:52.7]
  • How dissatisfaction can lead to unhealthy spending habits! [0:48:37.5]
  • Bill's thoughts on the FIRE concept; pros and cons of adopting the philosophy. [0:50:31.4]
  • The impact that The Millionaire Next Door has had on Bill's life and work. [0:51:48.2]
  • How Bill defines success and the value he places on kindness. [0:52:51.7]