Feldman's Faves: April 14, 2025

GOOD MORNING EVERYONE

First, I want to wish those of you celebrating a very Happy Passover.

I finally watched the season finale of White Lotus. Don’t worry I won’t spoil it for anyone but it was a little bit anti-climactic in my view. That said, I am really happy that Parker Posey is the “new” it-girl in Hollywood these days.

For those of you who are golf fans (which I have only recently become) this year’s Masters was epic. Great win for Rory, who has finally completed his career Grand Slam.

Finally, I want to say how much I enjoyed our section lunch. Big thanks to Alex as always and I cannot overstate how impressed I am with Jeffreen and Max, who could easily take over as the hosts of Entertainment Tonight. Even the Brenda (aka the GOAT) agrees.  BTW, has anyone a fan of Taylor Swift’s song, “Fresh Out of the Slammer” – if you know, you know….

This week’s theme is the work of Sahil Bloom and his definitions of wealth.  Given what The Donald has done to the world’s financial wealth, I think it might be a good idea these days to find other ways to think of this concept….

THE 5 TYPES OF WEALTH - A Transformative Guide to Design Your Dream Life By: Sahil Bloom –  Are you richer than you think?  We live in a world where money matters and where wealth matters. Anyone who denies this fact is – in my mind – being delusional. That said, it is certainly not the only think and is not the kind of wealth that leads people to happy and fulfilling lives.  Financial wealth is a tool that people use to live their best lives. BUT (and it is a big but….), when experts in the field of happiness do their work or when experts in the secrets to longevity do their research the one common conclusion that they all make, is that it is NOT ABOUT THE MONEY. Rather it is about health (both physical and mental), appreciating the time you have and making social connections. So even if you have all the money in the world it will not make you wealthy in the way that really matters. This is seemingly obvious conclusion is at the centre of Sahil Bloom’s work in his latest book, The 5 Types of Wealth and is a good reminder to all of us that are ambitious, who are striving and are still unsatisfied.  As one reviewer notes, “I have been following Sahil Bloom through his bi-weekly newsletter, The Curiosity Chronicle. I consider him to be one of the smartest thought leaders in the field of personal growth and development. He offers action oriented practical wisdom. Bloom’s book, The Five Types of Wealth: A Transformative Guide to Design Your Dream Life, has just launched and I interviewed him on my podcast Becoming a Sage. Though his book offers value for people of any age, our discussion for my podcast naturally focused on advice for people approaching retirement or who are retired. Bloom’s book involves storytelling, science-backed practices, and actionable insights around the five types of wealth: 1. Time Wealth: How to prioritize energy-creating tasks to unlock more time in your day. 2. Social Wealth: How to create deeper bonds and build a powerful network. 3. Mental Wealth: How to engage your purpose to spark continuous growth. 4. Physical Wealth: How to maximize health and vitality. 5. Financial Wealth: How to achieve financial independence and define your version of enough.” As part of his research for the book, Bloom interviewed a group of people ages 80 to 90 and asked them what advice they would give to their younger selves. In reviewing their answers, his main insight was what they omitted. “A clear theme was how no one mentioned money.” Interviewees told him “Not to allow money to affect your peace of mind.” In fact, the advice the group shared went in a very different direction, advising us to “tell your partner you love them every day” and “dance at weddings until your feet are sore.” Bloom’s findings are congruent with work of Richard Leider, one of the main thought leaders on the second half of life. In his book, “Who Do You Want to Be When You Grow Old: The Path of Purposeful Aging,” Leider says that “purposeful aging is fundamental to health, happiness, and longevity.” As we age, he believes it is liberating and we can become our authentic selves. I was especially intrigued by Bloom’s idea of Time Wealth. My leadership students used to call me Dr. Death because I would talk and teach about death, dying, and grief. Since Bloom is an advocate of the ancient philosophy of “Memento Mori,” Latin for “remember you must die,” I wanted his perspective on why he feels embracing death is critical to being fully alive. Bloom described his three pillars of Time Wealth as: 1. Freedom to choose how to spend your time 2. Agency over your schedule, and 3. The ability to prioritize what truly matters. Basically, this concept is not about contemplating death, but about the privilege and value of having control and flexibility over your time to live life on your terms. Bloom calls Time Wealth our most precious asset and having an acute awareness of this is what will change how we live. We also talked about the loneliness epidemic and why people of all ages should be more concerned about loneliness than all the other issues today. “The single greatest threat to humankind is our reliance on technology,” Bloom said, “It is draining our ability and energy for human connection. We are not looking up enough!” Bloom refers to this as Social Wealth, and I probed him for specific ideas on how to start building Social Wealth right now. “Invest in your relationships daily,” he said. “These investments will fill your life now and later.” While our society emphasizes networking to meet others, it tends to be shallow and not often long lasting. It is focused on transactional relationships. Bloom believes in anti-networking, which he described as making the time to develop deeper relationships that often translate into friendships—people on whom you can confide and depend. Connection is protection. The earlier we learn the five types of wealth, the better off we will be. In addition to time being our most precious resource, we also need be cognizant of where and to whom we are giving our attention. It is critical to devote time to invest in friendships and cultivate new relationships. Learning and growth never ends. Living and maintaining a healthy lifestyle throughout our life should start early. Achieving financial independence is based on each of our definitions of success and of having enough. “Never let the quest for more dominate your life,” said Bloom. It is easy to get caught up in a downward spiral by chasing after more of this and more of that. As the adage says, “Competition is the thief of joy.” Learn when enough is enough.’” Bloom offers perspective that is both obvious and intuitive. The hard part is to remember what he is saying and to apply his ideas to our own lives. Here’s a good review from Big Think  - https://bigthink.com/thinking/the-5-types-of-wealth-why-youre-wealthier-than-you-think/

The Next Big Idea – Sahil Bloom: The 5 Types of Wealth – For those of you who don’t have the time or interest to read the book, the interview with Bloom in this PODCAST is a very good summary. Here’s an excerpt from the PODCAST itself, “Turns out it’s not all about the Benjamins. Real success, according to Sahil Bloom, author of “The 5 Types of Wealth,” also requires the freedom to decide how you spend your time, meaningful relationships, a sense of purpose that pulls you forward, and the kind of health that lets you actually enjoy all of the above.” https://podcasts.apple.com/ca/podcast/the-next-big-idea/id1482067226?i=1000698069240

Thank you for your ongoing engagement and participation.

And remember to stay safe, stay healthy and to docket daily.

Jon