In today’s society, it’s easy to get caught up in the pursuit of financial wealth – the bigger the bank account, the more successful you must be, right? However, wealth strategist Sahil Bloom argues that this narrow focus on money is misguided. True wealth, he says, comes from balancing and cultivating five key types of wealth: time, social, mental, physical, and financial.
The sooner we understand the five types of wealth, the better our lives will be. Time is our most valuable resource, and we must be mindful of how and where we direct our attention, emphasizes Sahil Bloom, creator and writer of The Curiosity Chronicle newsletter, in his bestselling book ‘The 5 Types of Wealth’.
In his book, Bloom reframes affluence beyond just money, offering readers meaningful suggestions for finding fulfillment through richness in all areas of life. Building and nurturing relationships, committing to continuous personal growth, maintaining health, and defining our own version of financial success are all essential.
Why the 5 types of wealth matter
Bloom learned this lesson the hard way. Early in his career, he was laser-focused on climbing the corporate ladder and accumulating wealth. On paper, he was winning – promotions, bigger paychecks, the fancy trappings of success. But underneath, his relationships, health, and sense of purpose were crumbling.
It was only when he took a step back and reevaluated his priorities that he realized true wealth encompasses so much more than just money. By investing in all five types of wealth, he was able to build a life aligned with his deepest values and find the sense of fulfillment that had long eluded him.
The lesson? Don’t fall into the trap of defining your worth solely by your bank balance. Instead, take a holistic view and nurture all the different dimensions of a truly wealthy life. It’s the only way to achieve lasting happiness and contentment.
Some important wealth facts
- Unlike money, time is non-renewable; Invest your time wisely
- Lifelong learning increases opportunities and resilience
- Investing in fitness, nutrition, and mental well-being pays dividends over time
- Peace of mind, gratitude, and emotional stability are crucial components
- Focus on progress, not perfection
- Over 80% of U.S. millionaires didn’t inherit their wealth—they built it through discipline, saving, and smart investing
5 Types of wealth everyone needs to have
#1 Time Wealth
How many moments do you have with your remaining loved ones?
#2 Social Wealth
Who will be sitting in the front row at your funeral?
#3 Mental Wealth
What would your 10-year-old self say to you today?
#4 Physical Wealth
Will you be dancing at your 80th birthday party?
#5 Financial Wealth
What is your definition of enough?
Keep in mind that…
Time Wealth is our most precious asset; having an acute awareness of this is what will change how we live!
BUILDING RESILIENCE: Read in this series
