Member Reviews
This is an engaging and accessible exploration of how to think about and (re)define wealth. The book explores five types of wealth - financial, mental, physical, social, and time. It is full of practical advice and prompts to reflect and assess various aspects of wealth. I appreciated the structure of the book which is organized around asking a “big question”, offering conceptualizations of the different types of wealth, outlining three pillars of each aspect of wealth, and providing guidance and summaries.
Thank you to Random House Ballantine and NetGalley for the opportunity to read a copy.
As an ardent follower of Sahil Bloom's weekly newsletters, I approached his debut book with high expectations, and "The 5 Types of Wealth" not only met but exceeded them, emerging as the most impactful self-help book I've encountered in recent years. While longtime readers of Bloom's newsletters might recognize some concepts, seeing them woven together into a cohesive framework offers a fresh and transformative perspective on what it truly means to live a wealthy life.
At the heart of Bloom's philosophy lies the critical premise: financial wealth, while important, should not be the dominant measure of a rich life. Your wealthy life may be enabled by money, but in the end, it will be defined by everything else. As he says, "Your wealthy life may be enabled by money, but in the end, it will be defined by everything else." Through meticulous research spanning three years and countless interviews, Bloom presents four other equally crucial forms of wealth: Time, Social, Mental, and Physical. What particularly resonates is his practical approach, breaking down each wealth type into three pillars and providing a 25-question assessment tool that helps readers establish their baseline.
The book's true strength lies in its actionability. Each section concludes with concrete strategies for improvement, making abstract concepts tangible and implementable. Bloom's relationship map and energy matrix stand out for me as particularly valuable tools that I'm eager to incorporate into my own life. His systems for time wealth management are already proving their worth in my daily routine.
Perhaps the most powerful aspect of the book is captured in the interviews Bloom conducted, where notably, "No one mentioned money" when discussing their version of a wealthy life. This observation is perfectly encapsulated in one of the book's most memorable quotes: "The only thing that matters at all is the quality of the relationships with the people we love." This is particularly refreshing in today's money-obsessed culture.
"The 5 Types of Wealth" is more than just another self-help book; it's a comprehensive blueprint for living a truly rich life. Whether you're starting your career, navigating midlife, or planning for retirement, Bloom's insights and practical strategies offer valuable guidance for creating a more balanced and fulfilling existence.
A big thank you to Mulholland Books and NetGalley for providing an advanced reader copy in exchange for an honest review.
The subtitle nails this one...transformative! Given the current economic situation, every is re-evaluating their lives. Bloom provides a much needed perspective shift in how we think about wealth. More of the popular thinking is shifting away from wealth in terms of finances, and more towards wealth in other aspects of life, and this couldn't be needed. This is in the top 5 books I've read this year.
This book by Sahil Bloom is an easy read and gives a perspective of important things in life other than just pure money creation. The key philosophy of this book is learning how to balance and prioritize all aspects of life (time, physical and mental health, social and financial) instead of just focusing on the money goal at the cost of losing the other precious things in life.
The 'Life's Razor' is an interesting concept wherein a simple phrase or sentence that defines our purpose at that season of life and would act as the litmus test for all other actions and decisions in our life. That way, we have a guiding principle that keeps us on track in our life's journey.
Goals, campsites and anti-goals are good concepts to know the direction in which we are headed and the milestones along the way.
This book is too general and am not sure if there is a specific target audience for it, probably would fit the self help category.