Book Review: The 5 Types of Wealth by Sahil Bloom

Bloom introduces the concept of the “arrival fallacy” which holds that meeting a goal will bring a lasting sense of satisfaction.  He shares his own journey.  He was financially successful, but a friend pointed out that since he only saw his parents once a year, he would probably only see them about fifteen more times before they died.  That got his attention, and he began to examine his life and what was really important to him. “I had prioritized one thing at the expense of everything.”  It is easy to fall into the trap of single-mindedly pursuing financial wealth, but this won’t bring satisfaction.  Instead, he offers four other types of wealth that most people want – time wealth, social wealth, mental wealth, and physical wealth.  Financial wealth is important as well, but mostly because it can be used to achieve the other four types of wealth.  “Your wealthy life may be enabled by money, but in the end, it will be defined by everything else.”  Bloom notes the folly of pursuing more money than we need at the expense of the other types of wealth.  “Never let the quest for more distract you from the beauty of enough.”

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