Weekend Reading: The Five Types of Wealth

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend reading five types of wealth Weekend reading five types of wealth
Weekend Reading

Despite its association with a dollar sign, “wealth” doesn’t always mean money. There are a variety of ways in which you can be wealthy, all of which hold a different significance in your life.


They include:

📌 Time wealth: The most fundamental wealth that enables all other forms. It's valuable for personal growth and can be converted into other forms of wealth like skills, relationships and financial wealth.

📌 Physical and mental wealth: Physical health serves as insurance against aging, while good mental health is vital for happiness. The two are interlinked and essential for enjoying life.

📌 Relationship wealth: Family, close friends and social connections contribute to your emotional well-being. These relationships are unique to each individual and cannot be bought or transferred.

📌 Skills wealth: You hold wealth in your skills, which can lead to financial wealth. Skills are valuable, transferable and convertible, serving as a precursor to monetary success.

📌 Financial wealth: Highly coveted due to its convertibility and ability to provide options. It's visible and measurable, but its value can overshadow other forms of wealth.

You might overvalue things that can easily be measured, but they may not be the most valuable elements in your life. Take pause and assess where you are putting in your energy today, before it’s too late.