The 5 Types of Wealth With Sahil Bloom

Summary

Podcast Summary: The 5 Types of Wealth With Sahil Bloom

Episode: The 5 Types of Wealth With Sahil Bloom
Release Date: April 27, 2025
Host: Ramsey Network
Guest: Sahil Bloom, New York Times Bestselling Author

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Introduction

In this insightful episode of The Ramsey Show Highlights, host Dave Ramsey welcomes Sahil Bloom, the author of the New York Times bestselling book "The Five Types of Wealth". The conversation delves into Bloom's comprehensive approach to wealth, expanding the traditional focus beyond financial success to encompass various dimensions of a fulfilling life.

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Unveiling the Five Types of Wealth

[00:59] Sahil Bloom:

"The five types of wealth that I talk about in the book are Time wealth, all about freedom; Social wealth, it's about your relationships; Mental wealth is about purpose and growth; Physical wealth is about your health; and then financial wealth is about money, what we all know and love."

Sahil Bloom introduces his framework, identifying Time, Social, Mental, Physical, and Financial wealth as the pillars of a well-rounded, prosperous life. This model challenges the conventional singular focus on financial wealth, advocating for a more holistic approach.

[02:01] Dave Ramsey:

"We often get a question about work-life balance in the middle of getting out of debt. ... It's not always that way, is it?"

Ramsey echoes Bloom's sentiments, emphasizing that striving for balance does not necessarily entail sacrificing one aspect of life for another.

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A Comprehensive Scoreboard for Life

[01:22] Sahil Bloom:

"Our default scoreboard, the way we have traditionally measured our lives, has been incomplete and that has been entirely based around money. ... focusing on a more comprehensive scoreboard, a way to measure your life across all of these areas, that's how you go and build the comprehensively wealthy life that we all really want."

Bloom critiques the narrow metrics society often uses to gauge success, advocating instead for a multidimensional assessment that includes personal freedom, relationships, mental well-being, and health alongside financial stability.

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Work-Life Harmony Over Balance

[03:28] Sahil Bloom:

"The whole idea of even saying work, life balance fundamentally places the two things in tension and that tension is made up. The reality is that the two can actually be part of a harmony."

Bloom challenges the conventional notion of work-life balance as a zero-sum game, proposing that integration and harmony between professional and personal life are achievable and beneficial.

[05:05] Dave Ramsey:

"Discipline begets discipline."

Ramsey adds that establishing discipline in one area of life can positively influence other areas, fostering overall growth and stability.

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The Catalyst Role of Physical Wealth

[04:04] Unknown Guest:

"We see a correlation between healthy people and actually financially wealthy as well. ..."

Bloom underscores the critical role of Physical Wealth—health and vitality—as a foundation that supports and enhances all other types of wealth. Maintaining physical health empowers individuals to take charge of other life aspects with confidence and agency.

[05:05] Sahil Bloom:

"When you take care of yourself, fundamentally what you're doing is taking back agency over your life."

Taking care of one's physical health fosters a sense of control and capability, which permeates into financial decisions, relationships, and personal growth.

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Addressing Societal Views on Success

[05:45] Unknown Guest:

"This book has really taken off. ... Why do you think that's happening?"

The discussion shifts to society's sometimes negative perception of success. Bloom attributes this to feelings of inaccessibility and the relinquishing of personal agency.

[06:09] Sahil Bloom:

"Success has become something that they don't feel they have access to. ... you create that one tiny piece of momentum, reassume that agency, you will no longer believe that you have the capacity to take an action and change your life."

Bloom advocates for reclaiming personal agency through small, deliberate actions, which can collectively lead to significant personal and professional transformations.

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Building Momentum Through Small Actions

[07:22] Sahil Bloom:

"The tiny action that you do today is going to be the thing that creates the momentum for tomorrow."

Bloom emphasizes the power of incremental progress, suggesting that small, consistent efforts can lead to substantial and sustainable change over time.

[08:10] Sahil Bloom:

"A five-minute call is better than nothing. A ten-minute walk is better than nothing. Five minutes of writing is better than nothing in all areas of your life."

He encourages embracing minimal viable efforts, asserting that any positive action, no matter how small, contributes to overall growth and wealth.

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Conclusion: Designing Your Dream Life

[07:57] Dave Ramsey:

"Create the free every dollar budget today. The simplest way to budget for your life."

The episode concludes with Ramsey endorsing Bloom's methodologies and encouraging listeners to take actionable steps towards financial and personal well-being.

[09:10] Sahil Bloom:

"It is all about taking deliberate daily actions to actually go and build the life that you want."

Sahil Bloom reinforces the theme of intentionality and daily commitment as keys to achieving a balanced and wealthy life across all five dimensions.

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Key Takeaways

1. Holistic Wealth: True wealth encompasses time, social connections, mental well-being, physical health, and financial stability.
2. Agency and Momentum: Taking small, intentional actions fosters a sense of control and builds momentum for larger life changes.
3. Work-Life Integration: Achieving harmony between professional pursuits and personal life enhances overall satisfaction and success.
4. Physical Health as a Foundation: Maintaining physical well-being is crucial as it empowers individuals to excel in other areas.
5. Redefining Success: Shifting focus from solely financial achievements to a more comprehensive view promotes a fulfilling and balanced life.

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For those seeking to design their dream life with a multifaceted approach to wealth, "The Five Types of Wealth" by Sahil Bloom offers a transformative guide grounded in actionable insights and practical strategies.

Transcript

[Dave Ramsey]

Brought to you by the EveryDollar app. Start budgeting for free today. I was just talking about Ken Coleman's front row seat a minute ago. One of the guests recently was Sahil Bloom. And Sawhill has a brand new New York Times best selling book out the five Types of Wealth. And we asked him to stop by while he was hanging out with the Ramsey team here and be a part of our show today here live on the air. Welcome, Sahil.

[Sahil Bloom]

Thank you so much for having me.

[Dave Ramsey]

Congratulations on all your success, man. Well done. Things blowing up.

[Sahil Bloom]

I appreciate it. I appreciate it. It's fun to see the impact in the world, you know.

[Dave Ramsey]

Yeah, writing a book's a pain in the butt, but the results of it and how long it sticks around it makes it worth doing.

[Sahil Bloom]

Yeah. Something permanent about a book versus anything else that you do. Social media, writing, etc. Just does feel different.

[Dave Ramsey]

Something very analog in a digital world. For sure. Very cool stuff. All right, five types of wealth, I got to hear, what are they?

[Sahil Bloom]

So the five types of wealth that I talk about in the book, Time wealth, all about freedom. Social wealth, it's about your relationships. Mental wealth is about purpose and growth. Physical wealth is about your health. And then financial wealth is about money, what we all know and love.

[Dave Ramsey]

Okay. And I'm going to guess and say you figured out that if those aren't all working, that none of them work.

[Sahil Bloom]

Yeah, the whole idea.

[Dave Ramsey]

Well, anyway, exactly.

[Sahil Bloom]

The whole idea is that our default scoreboard, the way we have traditionally measured our lives, has been incomplete and that has been entirely based around money. And that is part of building a wealthy, a fulfilling life. But it's not the only part. And for a lot of people, the chase and the obsessive quest to do the one thing comes at the expense of everything else. You get the pyrrhic victory, you win the battle, but you lose the much bigger picture, war. And so focusing on a more comprehensive scoreboard, a way to measure your life across all of these areas, that's how you go and build the comprehensively wealthy life that we all really want.

[Dave Ramsey]

You know, that's. We often get a question about work, life balance in the middle of getting out of debt. You know, you're going scorched to earth while you're getting out of debt. Following them, our process. And as if there's no way to have high quality relationships or even a social life while you work hard. There's some aspects, people have this idea that it's on a spectrum and there's an automatic trade off. If I get a bigger piece of that. There's a smaller piece of that. It's not always that way, is it?

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[Dave Ramsey]

A bigger piece of that, there's a smaller piece of that. It's not always that way, is it?

[Sahil Bloom]

No, I totally agree with you. The whole idea of even saying work, life, balance fundamentally places the two things in tension and that tension is made up. The reality is that the two can actually be part of a harmony. Right? I mean, your family is on the mission with you that you are on when it comes to your work and they should feel that way because it's part of building a life together that you're on that journey.

[Dave Ramsey]

Your wife did the COVID of the book.

[Sahil Bloom]

My wife did the COVID of the book. Exactly right. We're all on this mission together. I do think that the mindset of on off switches in life is one of the most dangerous mindsets we all have. We say, oh, I'm going to be focusing on making money. So too bad, you know, health, too bad, family, friends, all those things get shut off. The reality is, is that you can just have them on dimmer switches. Just because you're prioritizing making money and getting out of the paycheck to paycheck cycle doesn't mean you shut off these other areas. Anything above zero compounds in all of these areas of life just as much as it does with your financial future.

[Unknown Guest]

You know, we were talking about this when you were on front row seat, but I want to bring this up because I think there's clear data now. We can look at CEOs, we, we see a correlation between healthy people and, and actually financially wealthy as well. It's pretty interesting how that correlates. And I think a lot of people overlook their physical health, right, because they go, hey, I'm doing well here. What have you seen on that? And how do you correlate those in.

[Sahil Bloom]

The book over and over again, we find that physical wealth, your health and vitality is a catalyst for every single other area of your life. When you take care of yourself, fundamentally what you're doing is taking back agency over your life. You believe that, that you have the ability to take an action, do something for your physical health, and create a desired outcome. That belief that you have instilled in yourself through the physical pursuits applies to everything else that you do. You now believe that you can take an action at work and create a desired outcome, that you can take an action financially, create a desired outcome, that you can do that in your relationships. All of that is about reassuming agency.

[Dave Ramsey]

I can reassume the hero in the story's role. I can take control of this. I can control the controllables. The number of times we've over the 35 years doing this that someone says, oh, while I was getting out of debt, my marriage vastly improved and I lost 40 pounds. Not from not eating, but from physically taking care of myself. And so it turns out discipline begets discipline is one saying that fits right with that.

[Sahil Bloom]

Yeah, absolutely. And you become a different person by taking these actions. So as a result, you are doing one thing, but it has those ripple effects into every other area of your life.

[Unknown Guest]

You know, we were talking earlier, Sahil, I want you to share this because we agree on this. This book has really taken off. It's hit a nerve. And the title itself is somewhat provocative without trying to be the five types of wealth, but in America today, we're beginning to see kind of a groundswell, a negative groundswell that's anti successful people. Why do you think that's happening?

[Sahil Bloom]

I think that for a lot of people out there, success has become something that they don't feel they have access to. And that is fundamentally giving up your agency. Right. You are saying that other people have the opportunity to do things and create success, but I do not. And so I'm going to bemoan that success because I don't feel I have access to that. If you change one thing about your life, you create that one tiny piece of momentum, reassume that agency, you. You will no longer believe that you will recognize that you have the capacity to take an action and change your life.

[Dave Ramsey]

I would add to that that as a couple, particularly a young couple, we see them, once they lock arms and fix their eyes on the same goal, and then they go slay that dragon together, they start to realize we as a couple can take agency over all these different areas of our life. And it just builds confidence. The empowerment gives you confidence to go forward, time Social, Mental, Physical, Financial, the five types of wealth. Sahil Bloom is our guest. This is now a seven weeks on the New York Times bestseller. It's a legitimate, very good book and strongly recommend you pick up a transformative guide to design your dream life. Talk about designing your dream life.

[Sahil Bloom]

It is all about taking deliberate daily actions to actually go and build the life that you want. The tiny action that you do today is going to be the thing that creates, creates the momentum for tomorrow. The problem is that when you stare at this big wall, you're trying to go create this enormous change in your life. It's too intimidating. You look at it and you say like, I can't possibly get to the other side of this thing. You don't have to do that. It's just about creating a little bit of awareness and then taking a tiny bit of action. Because again, that tiny action is what creates the momentum for you to get a little bit better tomorrow, a little bit better the day after that.

[Dave Ramsey]

When you're staring at the blank screen, I'm going to write a book. Do you have that same feeling?

[Sahil Bloom]

Absolutely.

[Dave Ramsey]

I better put a word down here fast so that another word comes. So that another word comes because otherwise I'm going to be two days staring at this blank screen.

[Sahil Bloom]

Absolutely. And Again, anything above zero compounds the 10 words that you write today, the 10 minutes. But successful, ambitious people are the worst about allowing optimal to get in the way of beneficial. They say, I'm not going to. I don't have an hour to work out today, so I'm just not going to work out. I don't have two hours to write, so I'm just not going to write. I don't have an hour to call my mom, so I'm not going to call her. The reality is that a five minute call is better than nothing. A ten minute walk is better than nothing. Five minutes of writing is better than nothing in all areas of your life.

[Dave Ramsey]

Yeah. So make the call, do the walk. A walk, you know, could lead to a run. You never know. So good stuff. Very good stuff. Very fun. And so they can also hear you on your podcast.

[Sahil Bloom]

No podcast right now, but maybe one to come soon.

[Dave Ramsey]

Okay, very cool.

[Unknown Guest]

Robust newsletter.

[Sahil Bloom]

Yes, Newsletter several times a week. And you can get the book anywhere books are sold.

[Unknown Guest]

And I want to point out, how.

[Dave Ramsey]

Do we get the newsletter? Newsletter [e-mail] s a h I l bloom.com. very, very good.

[Unknown Guest]

That's where that book came from, by the way. I want to brag on him. I had been following you for years because of that newsletter. And even on X you would put out these little nuggets and he lives what he believes on that. That's how this book came about. You tested this content for a long time and now you're seeing the results of it.

[Dave Ramsey]

So I wrote a book with an absolutely horrible title that didn't do very well. It's called More Than Enough. So answer that question. What does it mean to have enough?

[Sahil Bloom]

I love the whole idea of enough because fundamentally enough is where you build your best life. The chase for more is a plague. More is the most dangerous word.

[Dave Ramsey]

The minimalists would love you.

[Unknown Guest]

Yes they would.

[Dave Ramsey]

I love it. The Five Types of Wealth Sahil Bloom thanks for stopping by my friend.

[Sahil Bloom]

Thank you for having me.

[Dave Ramsey]

So proud of your success. Very well done. Create your free every dollar budget today. The simplest way to budget for your life.