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#193 | The Five Types Of Wealth: A Refreshed Concept Of Time Ft. Sahil Bloom

• Sahil Bloom • Season 5

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Sahil Bloom is the newly minted author of NYT Best Seller, The Five Types of Wealth.

In this condensed discussion from a book club review, Sahil reveals how to treat time as an equal commodity to money and why "time wealth" is so important to grasp before it gets too late.

Sahil also provides encouragement to push past imposter syndrome, in addition to cultivating deep & meaningful relationships!

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Speaker 1:

You need to recognize that anything above zero compounds positively. Anything above zero compounds the tiny thing. The tiny little thing that you can do in your relationships is better than doing nothing. Ambitious people we allow optimal to get in the way of beneficial. So we tell ourselves if I don't have an hour to work out, I'm just not going to work out today. Or if I don't have an hour to spend time with this person, I'm just not going to do anything. But the reality is that the little thing still stacks up positively over the long run. So, on a daily basis, find some way to invest in your relationships. That could be as simple as sending a text to a friend when you're thinking about them. If you think something nice about someone, let them know. Right then Send the text, send the message. Do the two-minute phone call when you're on your walk to work. Do that little thing and it'll stack up positively in your life.

Speaker 2:

Welcome to the Wednesday Podcast, a weekly resource thoughtfully crafted to help people build and refine discipline, accomplish their goals, fortify their mindsets and be of service to somebody in this world. My name is Ryan Cass and I am your host, and it is my mission and commitment to deliver amazing episodes to you every week where you'll learn from myself or a renowned expert in their field. We love helping people win in every aspect of their lives, and you can help us win by sharing the show with somebody that you believe will benefit from it, subscribing and leaving a rating and review. We believe that everybody in this world is meant to do something great with their lives, and we're here to help play a role in that. Thank you for tuning in and let's win today.

Speaker 2:

Have you ever thought about there being more than one type of wealth in this world? Growing up, many of us may associate wealth with monetary means, our financial wealth, our access to capital, our ability to earn money, wealth being a singular thing that is tied to money. But what if wealth was an overarching concept that touched the most important elements of our lives? What if we treated time as the same type of commodity as we do? Money Meaning that, what if you could be wealthy in terms of your time, as if it was a financial asset? What if you could be wealthy as it relates to your mental health and how strong you are and how resilient you are and how fortified your mind is? What if wealth could also be associated with your physical state?

Speaker 2:

The five types of wealth just came out from Sal Hillblum, who is one of the most popular authors in the world right now, continues to remain in the top 10 charts of the New York Times bestselling list, and we had the opportunity to have him with us as part of the Unshakable Crew book club launch, and he was our first guest speaker. An incredible, incredible, incredible, incredible opportunity. Many of you know who Sahil is. You probably have read his book or have it, or, if not, I highly encourage you to get his book, the Five Types of Wealth, which I'm sharing in this interview. Snippets of our conversation with Sahil, where I interviewed him live in front of our audience and asked questions about some of the concepts and most powerful frameworks that can be extracted from this book.

Speaker 2:

What I really extracted from this conversation that I believe is most useful for you all are the concepts of time wealth, mental wealth, and then, at the very end, something that you may find surprising about Sahil and really how he revealed that he is just as human and normal as all of us, and you'll find that out when he talks about the book launch. You may think it was going to be the best day of his life, but stay to the end and hear his answer there and then hear what was running through his mind, as now one of the top selling authors in the world may surprise you and encourage you to keep going on your pursuit, to maybe even go even harder on your pursuit, because what you hear him say again it will be surprising, but I believe, surprisingly encouraging that we all feel our own emotions. It doesn't matter if we're at the top of our game, just getting started best in the world, not the best in the world amateur expert you keep going. But I really want to come back to the concept of time wealth that especially the majority of us listening are in our mid-career, have an abundance of time on our hands, provided the big man allows us to stay here for at least 80 years, which is, I believe, the average lifespan. Now we have an abundance of time and let's start treating that time, just as we would, a precious commodity, even like money. So enjoy this conversation. Be mindful of the time that we do have in this world and the essence of what it means to be a time billionaire, which you're about to find out here in about two minutes. Be mindful of the five types of wealth as it relates to your time, your social wealth, your mental wealth, physical wealth, financial wealth, and how you can nurture each of them so that you can create the life that you ultimately desire, and create your dream life, as Sahil beautifully lays out for us.

Speaker 2:

The next thing as encouragement here, because a lot of folks have been asking this question how did you get one of the top selling authors in the world to come and speak to your group? Because the reality is at this current moment. You know, sahil has been on the biggest podcasts in the world I'm not there yet and, relatively speaking, when today is still a relatively small show. Same thing with the Unshakable Crew and the Unshakable Discipline Mastermind, which is who he came to speak to. It is still small, but he put out there into the world.

Speaker 2:

If anybody has a book club of 10 or more people, then let me know and I would love to come and speak to you guys in person or I'll do some virtuals. I didn't even think twice about it Didn't even have a book club yet but I knew that, a this is a hell of an opportunity and, b I know I can get 10 plus people into a book club meeting and include this as part of my mastermind meeting cadence. Therefore, didn't even take two seconds to think about it and reached out to Sahil and he got back almost instantly. So stop asking the how? Questions in life people, and just start taking action on whatever it is that you want, whatever it is that is most important to you.

Speaker 2:

Now enjoy this conversation with Sahil and get your copy of the five types of wealth. Let's go. We have 30 minutes together, and one thing that rings true throughout multiple sections of the book is time and its importance, and many of us are early career, mid-career folks that may believe we have an abundance of time on our hands. How has your relationship with time shifted? And really, what was it that led to this discovery that, hey, maybe time isn't so abundant and we should really be more mindful of what we have on our hands right now?

Speaker 1:

Yeah, I mean the real transformative moment on my journey I share in the first line of the book, which was this conversation with this old friend of mine pointing out, really, just the mortality of my parents, and that you know the amount of time that you have left with the people that you care about most in the world. The amount of moments that you have for all of these things is much more finite and limited than we care to believe, and when we're young in particular, time is sort of one of those things when you think about it, that you think about just about none for your entire life, and then at the very end, it's the only thing you think about, but then it's too late, you can't do anything about it at that point, and so that awareness, like pulling that awareness forward into your present reality and recognizing that you can actually take actions to influence and create time in a certain way, is such a powerful realization for everyone's life. And what I mean by that is like we made a decision, we took an action, we decided to move, I left my job, we made this big change and in that one decision we took the number 15 more times before my parents were gone, and jumped it into the hundreds. I mean, I see my parents multiple times a month. They're a huge part of my son, their grandson's life.

Speaker 1:

We took an action and actually created time with the people that we care about most in the world, and in that there's this really empowering idea, which is that you are in much more control of your time than you think. It's very easy to assume that time is just this passive thing that just flows and you can't do anything about it. That is like the ancient Greek word chronos. It's like chronological, just quantitative, linear time, and what you're saying is that I actually have the power to influence these certain moments, to lean into certain moments, to take advantage of these magical windows of time when certain people occupy our lives in a very differentiated way, and that awareness is really the spark for everything dynamic characteristic this idea of Kairos in ancient Greece.

Speaker 2:

You start operating differently, you start living differently, you start paying attention to things that you previously had just glazed over One thing that really hit hard as I was reading the book about time. In addition to what you mentioned that having 15 visits left with your parents potentially having 15 visits left with your parents potentially if you stayed on the West Coast is this concept of a time billionaire, and I believe that's something that's really memorable. And you talk about how you wouldn't want to trade lives and many of us wouldn't want to trade lives with Warren.

Speaker 1:

Buffett.

Speaker 2:

Now, without knowing the concept of a time billionaire, some people might think well, why wouldn't you want to trade lives? He's a billionaire and has all these things. So can you expand on that a little bit more and put the time billionaire concept in our thoughts?

Speaker 1:

Yeah, the concept of a time billionaire I first heard from an investor named Graham Duncan, and when I spoke with him, he basically said the genesis of it in his life was that he was interviewing all these young people to join his investment firm, and what he recognized was that all of them shared one thing in common, which was that they wanted to become billionaires. They all wanted to make a billion dollars, and what he said was that I realized that they were all billionaires in one very important way, which was they were time billionaires. A billion seconds is about 30 years, so when you're 20 years old, you have roughly 2 billion seconds left in your life. When you're 50, you have about a billion seconds left. But we don't relate to time in that way.

Speaker 1:

We don't think about the fact that time is actually our most precious asset, that it's the only thing that you can't get more of, that you can't get back, and so that question that I bring up in the book of would you trade lives with Warren Buffett is a really important way to actually internalize this idea. Which is to say, warren Buffett is worth $130 billion, he has access to absolutely anyone in the world, he flies around on a Boeing business jet. There's no way that you would ever agree to trade the amount of time he has left for all the money in the world. And on the flip side, he would give anything to be in your shoes, to be your age. He'd give up every single dollar that he has to do that.

Speaker 1:

And so what you recognize in that question is your time has, quite literally, incalculable value. I mean incalculable value. And yet, on a daily basis, how much are you really appreciating that asset? How much are you sitting around scrolling on your phone, comparing yourself to other people, stressing about things in the future, anxiety over things in the past, spending time saying yes to low value activities, things that are not bringing you energy in your life, doing all of these things that are wasting the one most precious thing that we really have in our lives? And so internalizing that concept, thinking about that, recognizing that we all need to tune in much more to our time and really start treating it with that elevated reverence, if you will, is a really, really important concept and central to this entire idea.

Speaker 2:

Really appreciate that. One thing I love about the book Sahil is that there's so many amazing studies and frameworks and jumping into social wealth. You share a study between two groups of folks in Boston, groups of young males that come from more fortunate upbringings and then those that come from less fortunate upbringings, and they're looking at the relationship between that and the relationships that they have later in life. On page 137, this study led to the key to aging. The key to healthy aging is relationships, relationships, relationships. The study has found that strong, healthy relationships are the best predict in your life today that have influenced you and helped you get where you are. What are some things that tips you have in terms of captivating, deep, meaningful relationships that we can take away?

Speaker 1:

Yeah, I mean the study you reference. It's called the Harvard study of adult development. I would personally argue that I think it's the most important study of the last 100 years. The most salient finding is that they followed the lives of 2,000-ish people 1,300 original participants and then 700 descendants over the course of 85 years. They found that the single greatest predictor of physical health at age 80 was relationship satisfaction at age 50. It wasn't your blood pressure or your cholesterol, or your smoking or drinking habits. It was how you felt about your relationships that determined how well you aged.

Speaker 1:

And that idea is so important because what it reminds you of is that investments in your relationships are really the single greatest and most important investment that you need to have in your life. You need to remind yourself on a daily basis that investments in relationships compound just as well as any financial investment. What happens to a lot of us when we're young is we realize that we need to build this financial foundation, we need to set ourselves up, which is true and that is accurate. But the thing we split off during that period of all we're going to begin with, we stop texting those old friends, we stop getting the group of college friends together for the annual trip, we don't take the five minutes to call our parents when we're on the ride to work. All of those things start to get sacrificed as we're focusing on the one thing. And yet those things, those relationships, scientifically are the one thing that's going to have the greatest impact on how well that we age and on the texture of our life. I mean, you think about the one type of wealth here that has more of an impact on all the others Social wealth, is it? No one dreams about being on a private jet by themselves. You know, like what good is it to be healthy if you can't go for a walk with a friend or go on a hike with someone that you love? Like? All of these things are added, like have added texture when you have people to actually enjoy them with.

Speaker 1:

And so, winding myself back to your actual question, I think the fundamental answer to it is you need to recognize that anything above zero compounds positively. Anything above zero compounds. The tiny thing, the tiny little thing that you can do in your relationships is better than doing nothing. Ambitious people, we allow optimal to get in the way of beneficial. So we tell ourselves if I don't have an hour to work out, I'm just not going to work out today. Or if I don't have an hour to spend time with this person, I'm just not going to do anything. But the reality is that the little thing still stacks up positively over the long run. So, on a daily basis, find some way to invest in your relationships. That could be as simple as sending a text to a friend when you're thinking about them. If you think something nice about someone, let them know. Right then Send the text, send the message. Do the two-minute phone call when you're on your walk to work. Do that little thing and it'll stack up positively in your life.

Speaker 2:

Discipline is a key component of this podcast and a key thing that we preach. We view discipline as the fuel to help you create the life that you ultimately desire, and discipline being the fuel that gets your habits and systems in check so that you can actually accomplish your goals. If you're looking to level up in 2025, I am happy to be a part of that and encourage you to join the Unshakable Discipline Mastermind Group. This has been my baby for a couple years and we're finally launching it here in 2025. The group consists of a self-paced course that teaches you how to form core habits and mindset that will allow you to accomplish your goals. A daily accountability channel to keep you on track, motivated and in alignment with our members, and weekly mastermind sessions where you're going to learn from either myself or a suite of renowned guests many who have been on the podcast that are going to share pieces of their winning playbooks directly with you.

Speaker 2:

I've learned that being a part of groups over the years has helped propel me to so many new levels in life. If you want to go fast, go alone. If you want to go far, then go together, and it's my wish that the Unshakable Crew is a choice that makes sense for you in 2025. We are growing up to 100 members this year and have limited time founding member pricing for 12 more folks before we permanently increase pricing to $97 a month. You can get in now for $67 a month, locked in for life, and be a part of the adventure that we're creating with our members.

Speaker 2:

If you're somebody that craves discipline, seeks it or wants it this year, and you're really committed to making lasting changes in your life and being around others that are committed to winning and serving the world and sharing what they learn with others so that we make this world a better place, then join the unshakable crew. Go to unshakable disciplinecom and you can sign up. It is also in the show notes Unshakeable shake, as in milkshake, unshakabledisciplinecom, and we're excited to have you in 2025. Let's go. When I first discovered you, sahil, your tagline was exploring your curiosity and sharing what you learn along the way and as we go into mental wealth. The opening story was a gentleman that knew your father that for his 89th or 90th birthday, all he wanted to do was go to classes at Harvard to see what the geniuses were up to, and he went there and had an amazing day with his wife and with that, how does curiosity still play an active role in your life and what's the importance of maintaining that, even after we've quote may have thought we made it.

Speaker 1:

Yeah, curiosity is part of your default setting as a human being. I mean anyone that has kids, that's on this call. I have a two and a half year old. Curiosity is hardwired into our DNA. It's how we learn about the world, it's how we engage with the world. Unfortunately, that curiosity fades with time.

Speaker 1:

In a traditional context you find that over time either you become less curious or, I would argue, we just stop acting on that curiosity. We're not less curious, we just don't have the space in our life to actually pursue those curiosities. So if you think about a little kid, you watch a little kid the way that they operate. When they get curious about something, they immediately go down the rabbit hole on that thing because they don't have any responsibilities, right. Like if my son gets really interested in some shape or dinosaur or something like that, he can just literally just go be excited about the dinosaur for the next hour and that can be his thing for an hour.

Speaker 1:

We don't as adults have that luxury, necessarily, but our responsibility is to make sure that we have little pockets of space in our life, little breathing rooms, you know. Ventilate our calendar a little bit so that we are able to pursue our curiosity at some point during the course of our week. It could be as simple as a five minute walk on a daily basis. It could be that you take an hour for yourself on the weekend, just something where you're breathing a little space into your calendar so that you can go down a few of those rabbit holes of things that you're excited about.

Speaker 1:

The reason that's so important is because curiosity is fundamentally what allows you to unlock these different things in your life. It's how you actually uncover your purpose as you are changing across these different seasons. It's how you spark new growth in your life and, fundamentally, curiosity actually helps you spark new growth in your life. And, fundamentally, curiosity actually helps you age better and live for longer. There's plenty of studies now that show that curiosity actually improves all-cause mortality. It's crazy, but it's really important. So leaning into these things and making sure that you create the space in your life to actually pursue your curiosity as you get older is very, very important.

Speaker 2:

Is there anything that you're currently deeply curious about, now that you're spending some time picking at more than you thought you would?

Speaker 1:

I am deeply, deeply curious about the mechanics of what makes a book take hold as a movement. I mean, hopefully it comes across just as I talk about these things. But like this is very much a life mission for me, like I really deeply want people to start to question what they truly want in life and stop accepting the defaults that they've been handed, stop accepting the mountain that you've been told you should want to climb and start asking yourself the question of what is the mountain that I actually want to climb? What is my definition of success? Not the one that I've been handed by the world, and if it's the same, great. But at least have asked the question, because I found this over and over again that we spend so much time focusing on speed how fast can I climb up this mountain? How fast can I charge to the top of this thing, whatever it is? And we very rarely take the second to just ask whether you actually want to be at the top of this mountain that you're climbing or whether you even enjoy climbing up it in the first place. And taking the time to ask that question is really what the fundamental concept of this whole book is it's about identifying the things that you truly care about and then going and taking tiny actions to build your life around those things.

Speaker 1:

And I am deeply, deeply committed to making this a movement and something that sparks new people to action in their own lives, because I've seen the value that it's created in my life, these ideas and I fundamentally believe that the most scalable outcomes are created through unscalable actions and going and actually meeting people and spending time with people and interacting, so that you can understand how much I care about this stuff. But it's not like I'm not some influencer that published a book to try to make a bunch of money Like I don't have a course to sell you, like I, it's $20 book. I think. I think it's going to be worth way more than that in terms of the value that it creates in everyone's life. Uh, and if you told me that it didn't create any value for your life, I'd Venmo you 20 bucks, um, cause I really, really believe in the value that it can create in the world and um, I, I want to do the unscalable things. That that's what gives me energy, if I insights there.

Speaker 2:

And, yeah, one thing when I was thinking about, my original lead-off question was going to be were there any outcomes for the book that maybe you wouldn't have predicted and but that now you know, you're, you're awake to, and it's interesting how you're curious about you know, know, just, hey, what's? What movement can this create? And really, what all is there to follow up? Uh, what, what all is there to follow this book, and I'm really excited to see that uh unfold and can only imagine the massive impact that it's going to have for decades to come.

Speaker 1:

There's a I hope so. I mean it's the concept itself, it's not. It's not timely, it's just it's timeless. The ideas and, um, you know, I like it's been out in the world for three ish weeks now, three weeks today maybe, and getting messages from people that, like you know, they booked a vacation with their family that they weren't going to have booked, or they called their parents a few more times, or they are moving home or, like you know, they sent me a picture of their kid being born and how much it just impacted that, like I am so deeply moved by the things that I've seen in three weeks I can't imagine three years and like, just thinking about the ripple effect of these things, um, from you know, sharing an idea into the world and seeing how everybody goes and runs with it, like it just I, it fills me with joy to just think about, um, like that I get to have been a tiny part of this in people's lives.

Speaker 2:

That's fascinating. We've got a question from Luke in Minnesota. What's one day in the past year that was memorable and why? I'm sure the book launch is part is one of them.

Speaker 1:

But yeah, I mean it was interesting, the book launch. Um, you would think that the day the book came out would have been like a really joyous and, uh, incredible day, feeling like this great accomplishment, and the reality, if I'm being totally honest, would it was. It was one of the most miserable days I've had in the last several years. I felt an extraordinary amount of anxiety, fear, stress, imposter syndrome, all of those really negative things on the day of the launch and working through that and trying to deconstruct it and really understand why I was feeling that way, um made it a very memorable day. I wouldn't say it was a particularly happy day, um, but a very impactful day for my life long-term, because it was a reminder to me that those feelings never go away.

Speaker 1:

Uh, imposter syndrome is a tax on your personal transformation and growth, by definition. When you were doing things that are on the border of your current competencies, you were going to feel that and reminding yourself that imposter syndrome is really a cost of entry to achieve the things that you want, that you asked for this growth and so you have to pay the cost of entry with pride. That was a really powerful and transformative realization for me, um, that I feel fortunate that I sort of endured and went through, uh, but a very weird sensation, kind of coming to the culmination of these three years of work and feeling that way that I felt.

Speaker 2:

Yeah, and one thing that's really neat there is that many of us there's probably a lot of people that look at you and think, oh, he doesn't ever face imposter syndrome, he's got a large audience, he's got the book, he's clearly got it figured out. One thing that I often talk about on the podcast, having had conversations with a lot of people like you, this is a live example that, even when any of us are thinking about, oh man, I don't know if I'm qualified to put this out in the world the people that we look up to the most which we really look up to you I certainly do are asking the same questions and having the same thoughts 100%, and you're probably not qualified and it doesn't matter.

Speaker 1:

It literally doesn't matter. No one's qualified until they get it. The fact that a lot of people have benefited from my writing about X makes me credible. To write about X, it's like you no longer live in a world where you need to get a PhD, whatever it is, in order to talk about it. If you talk about it, people find value in it. It impacts their life. Then you become qualified. You build your own credibility. You are your own credentialing and that is amazing. And the point is you're not qualified and that's great. Actually, don't do the thing that you're not qualified to do, because then on the back end of it, now you're qualified. Now people think I'm an offender, right, like I went through it a bit. You're like man, I'm not supposed to do things. Right, you can. If that's not an invitation for people to go and do the fricking thing that you want to do, no-transcript.

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