Beyond Money Rich: Five Types of Wealth #179

Your net worth isn't the full picture of your wealth. Financial independence is great, but if your health, relationships, and purpose suffer, are you really wealthy?

In this episode, Jamie and Spencer break down The Five Types of Wealth by Sahil Bloom and how to create a life that’s truly rich—beyond just the numbers in your bank account.

Overview:

Financial wealth is only one piece of the puzzle. Sahil Bloom’s book introduces the concept that true wealth comes in five forms: time, social, mental, physical, and financial wealth. Jamie and Spencer reflect on their own experiences in the military and beyond, exploring how service members often have hidden riches in some areas—like social and mental wealth—but struggle in others, like financial or physical health.

Wealth isn’t just about money. The most financially successful people often struggle in health, relationships, and purpose. The goal isn’t to maximize one area but to balance all five types of wealth so you can build a truly rich life—one that’s deeply fulfilling, not just financially secure.

Key Points:

• The Five Types of Wealth Defined: A breakdown of time, social, mental, physical, and financial wealth—why all five matter.
• Military Service & Wealth: How military members often have strong mental and social wealth but struggle in financial and physical areas.
• Time Wealth & How to Own Your Schedule: The importance of time freedom—are your days designed to build the life you want?
• Social Wealth & Deepening Relationships: How to build lasting friendships, especially after leaving the military.
• Mental Wealth & Purpose: How defining a personal mission statement can shape a more fulfilling life.
• Physical Wealth & Health: The long-term impact of fitness, nutrition, and recovery on overall life satisfaction.
• Financial Wealth & The Enough Life: The danger of chasing an ever-moving financial goal and defining your version of financial sufficiency.

Mentioned Resources & Links:

• Sahil Bloom’s book The Five Types of Wealth
• The quiz on Sahil Bloom’s website (for assessing your wealth across all five categories)
• The Psychology of Money by Morgan Housel
• Episode 46 about Psychology of Money
• Personal Finance Club – Jeremy Schneider’s simple investing strategies

For a limited time, Spencer is offering one-on-one Military Money Mentor sessions! Get your personal military money and investing questions answered in a confidential coaching call.

Our new TSP course is live! Check out the Confident TSP Investing course at militarymoneymanual.com/tsp to learn all about the Thrift Savings Plan and strategies for growing your wealth while in the military. Use promo code "podcast24" for $50 off. Plus, for every course sold, we'll donate one course to an E-4 or below- for FREE!

If you have a question you would like us to answer on the podcast, please reach out on instagram.com/militarymoneymanual or email podcast@militarymoneymanual.com.

If you want to maximize your military paycheck, check out Spencer's 5 star rated book The Military Money Manual: A Practical Guide to Financial Freedom on Amazon or at shop.militarymoneymanual.com.

I also offer a 100% free course on military travel hacking and getting annual fee waived credit cards, like The Platinum Card® from American Express, the American Express® Gold Card, and the Chase Sapphire Reserve® Card in my Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.

Learn how to get your annual fees waived on premium credit cards from American Express in the Ultimate Military Credit Cards Course at militarymoneymanual.com/umc3.

The Platinum Card® from American Express and the American Express® Gold Card waive the annual fee for active duty military servicemembers, including Guard and Reserve on active orders over 30 days. The annual fees on all personal Amex cards are also waived for military spouses married to active duty troops.