💰5 Types of Wealth
Sahil Bloom's new book - Top 10 Takeaways | Wisdom Letter #283
I’m reading Sahil Bloom’s first book - The 5 Types of Wealth. Just released last week.
Couple of highlights and top 10 actionable takeaways from the book -
The Arrival Fallacy -
The false assumption that reaching some goal will create a durable feeling of satisfaction and contentment in your life.
No, it won’t!
Money isn’t nothing - it simply can’t be the only thing
Your New Scoreboard - The 5 Types of Wealth
Time
Social
Mental
Physical
Financial
I summarised all the podcasts Sahil Bloom has been on recently promoting the book, and extracted the top 10 key takeaways from them
Top 10 Key Takeaways - The Five Types of Wealth
1. Take Immediate Action After Learning Something New
・ Instead of just consuming information and feeling good about it, take one small action immediately.
・ Example: If you read about a productivity hack, implement it in your daily routine right away.
2. Assess Where You Are in Life
・ Use tools to track your progress in different areas (e.g., time wealth, financial wealth, social wealth).
・ Example: Create a personal "net worth" tracker for life goals, not just finances.
3. Prioritize Time as Your Most Valuable Asset
・ Recognize that time is finite and should be treated with care.
・ Example: Audit how you spend your time and eliminate low-value activities.
4. Use Visualization & Mental Time Travel
・ Imagine your future self and align your present actions accordingly.
・ Example: Ask yourself, "What would my future self thank me for doing today?"
5. Implement a ‘Think Day’
・ Set aside time to reflect, strategize, and generate new ideas.
・ Example: Once a month, take a full day off from work to think deeply about your goals.
6. Define Your Core Relationships & Strengthen Them
・ Create a "relationship map" listing your top 10-25 relationships and assess their quality.
・ Example: Identify relationships that need more attention and schedule regular check-ins.
7. Ask Yourself Powerful Questions
・ Example: "If I were the main character in a movie of my life, what would the audience be screaming at me to do right now?"
・ This helps clarify what truly matters and what actions to take.
8. Set an "Anti-Goal"
・ Define things you want to avoid while working toward a goal.
・ Example: If you're increasing "time wealth," an anti-goal could be "I will not check social media before noon."
9. Apply the ‘Dimmer Switch’ Concept for Self-Improvement
・ Instead of an all-or-nothing approach, gradually increase effort in areas like fitness, relationships, and career.
・ Example: If you want to start exercising, begin with 5 minutes a day and increase over time.
10. Filter Decisions Through a Core Principle
・ Example: Jeff Bezos used "Does this improve the customer experience?" for Amazon.
・ You can create your own guiding question to make better decisions.
I’ll share more lessons from the book as I read it more.
But that’s it for now.
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That’s it for today.
See you next week 👋
Cheers,
Ayush & Aditi