When asked what they attribute their success to Warren Buffett and Bill Gates had the same answer: focus.
Buffett and Gates’ focus lead to immense financial wealth, but as Sahil Bloom lays out beautifully in his book The 5 types of Wealth, wealth isn’t just financial. Sahil adds time, social, mental, and physical wealth in addition to financial wealth to paint a full picture and this feels directionally right to me.
Recently I’ve felt scattered due to a new family, a new job, a new city. My struggling helped me realize to truly invest in all five of these types of wealth only requires two things
- Focus
- Time
While there’s countless things I can do in the world, I need to ignore 99.999% of them and instead build habits and perform them everyday.
While it’s not an exhaustive list, my core is:
- Time with family and friends
- 1 “wine night” a week with my wife at minimum
- Play with my son 30+ min every day
- Weekly mass
- Meditation
- A gratefulness list every 3 days
- Exercising ~5 times a week
- Reading ~2 books a month
- Automated investing every week
- A “failure journal” at least every 2 weeks (Arthur Brooks idea)
- Journaling (and ideally writing an article) to elucidate my thoughts every month
While there’s so much to do in the world, I only want to explore it after my strong core is in place. This is what allows me to compound in all types of wealth.
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