The 5 Types of Wealth: A Transformative Guide to Design Your Dream Life

Bloom refers to anthropologist Robin Dunbar’s “circles of friendship” in his discussion about the importance of relationships. These “circles” help people to visualize their relationships, from their closest connections or “circles” to their neighbors, community connections, and acquaintances.

Bloom uses the concept of circles of friendship to support his argument that social wealth involves the breadth of one’s relationships as well as the depth. He recommends investing deeply in close relationships with friends and family—members of the innermost circle—in order to deepen these close relationships. However, he also believes that to have true social wealth, people must also nurture the social relationships in their outer friendship circle. Without these, people will feel more socially isolated and will lack breadth in their relationships—a factor that provides different kinds of valuable connections and support. Bloom explains, “These relationships are important, as they can provide varied support such as networks for career opportunities, enjoyment, warm connections to new romantic partners, and more” (153).

Bloom refers to daily habits as “high-leverage systems,” which he believes to be “the engine that drives you forward into that envisioned future” (45). The “systems” term is borrowed from author James Clear, who argued that habits should be considered systems in his book Atomic Habits. Bloom agrees that habits are systems that either hinder or help goal achievement, and he also asserts that by ensuring that daily habits are productive and effective, people can develop “high-leverage systems” to enhance their personal growth. Bloom’s discussion of high-leverage systems contributes to his theme on The Link Between Habits and Goal Achievement, as he argues that weak daily systems will result in long-term failure, while intentional, productive systems will yield long-term success.

Lagom is a Swedish word that means “just the right amount” (315). Bloom recommends that people actively apply this concept to their own lives, considering factors such as the levels of possessions and income that are required to bring satisfaction. Bloom’s discussion about lagom and the importance of defining an enough life supports his focus on Overcoming Biases and Social Conditioning. Bloom believes that people are biased toward fixating on financial wealth and measuring their success by money alone. By clearly defining their lagom or enough life, people can avoid being trapped in addictive and unsatisfying cycles of earning and spending.