A few days ago I was searching for something worthwhile to watch on YouTube and stumbled across The 5 types of Wealth a book by Sahil Bloom on Google Talks –> 5 types of wealth – Google Talks. The title intrigued me; I watched the episode.
The episode was excellent.
According to Mr. Bloom the 5 types of wealth are:
- Time
- Financial
- Social/family {family added by me}
- Health
- Mental
We all have different seasons of life. Depending on the season one is in a different type of wealth outweighs the other seasons.
An example Bloom gave was when he was living in San Francisco and had a very successful career. His parents lived on the east coast. One day a friend asked him how old his parents were. Bloom answered the mid-60s. Then the friend asked him how often her saw them. Once or twice a year Bloom answered. Finally, the friend replied, you will probably see them a dozen more times until they pass on. Bloom thought about that for a while then quit his job and moved his family back to the east coast to be closer to his parents.
If I were younger I’d buy the book but I’m 78 and my wife’s caregiver. Therefore, what’s important to me for the foreseeable future is Time and Social/family. As for the other three Finance, Health, and Mental, at 78 it’s too late to do anything about them.
Too bad I didn’t come across this concept earlier when I was focused money to support my family. I’m sure we could have “gotten by” on less.
For more information on the book and the author: Click Here
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