Tag: Balance (page 2 of 6)

Beyond Money: A Guide to the 5 Types of Wealth

Your wealthy life may be enabled by money, but in the end, it will be defined by everything else.

This quote is from a book by Sahil Bloom. The title is 5 Types of Wealth: A Transformative Guide to Design Your Dream Life. I love this book for two reasons.

Firstly, because of the quote above.

The second reason is that it recognises that there are no fixed timelines on which you can change, fail, learn, grow, and adapt. Everyone’s seasons and definitions of balance are unique.

Quote by Naval Ravikant

Quote by Naval Ravikant

For instance, how you approach your early twenties is probably different how you lived (or live) your late twenties.  Your twenties might have been your foundation-building season. And then your thirties then become your compounding season.

If you are already moving fast, your thirties may already be your family-building season.

Or that is what your forties will be for. There’s no predetermined guide for this journey. That’s why life is so beautiful.

Now let’s come back to why I mentioned Sahil’s book.

The 5 Types of Wealth

Sahil Bloom believes there should be a new scoreboard when measuring wealth.

On this updated scoreboard, there must be Time Wealth, Social Wealth, Mental Wealth, Physical Wealth and Financial Wealth. He believes these are the five pillars to living a truly wealthy life. And I agree with him.

Let me tell you why.

Beyond Money: 5 Types of Wealth

Beyond Money: 5 Types of Wealth

#1: Time Wealth

This is the freedom to choose how to spend your time, who to spend it with, where to spend it, and when to trade it for something else.

Time wealth means having enough free time to do things you enjoy. It’s when you don’t feel rushed or too busy. People with time wealth get to choose how they spend their days.

If you disregard your time wealth, you become trapped in a loop of busyness, running faster and faster but never making progress.

Read More Here: Time Wealth: How to Invest Your Finite Moments

#2: Social Wealth

The connection to others in your personal and professional worlds is your social wealth.

Social wealth is having good friends and family who care about you. It’s the depth and breadth of your connection to those around you. The more people who love and support you, the more social wealth you have.

When you neglect your social wealth, you will lack the weighty relationships that provide lasting satisfaction and joy.

Read More Here: Social Wealth: Why Relationships Might Be Your Real Net Worth

#3: Mental Wealth

This is the connection to a higher-order purpose and meaning that motivates and guides your short and long-term decision making.

Mental wealth is having a happy, calm mind. People with mental wealth can solve problems without getting too upset. They can stay positive even when things get hard.

If you disregard your mental wealth, you live a stagnant life with self-limiting beliefs, low-purpose activities, and continuous stress.

Read More Here: Mental Wealth: What You Had as a Kid That You Need Back Now

#4: Physical Wealth

Your health, fitness and vitality are your physical wealth.

Physical wealth is having a healthy body that works well. People with physical wealth do not get sick very often. They always feel strong.

They always have energy to run and play.

When you neglect your physical wealth, you are at the mercy of the natural physical deterioration that robs you of enjoyment, especially in the latter half of life.

Read More Here: Physical Wealth: Invest in Your Health Today

#5: Financial Wealth

This is simply your financial assets minus financial liabilities.

Financial wealth is having enough money for what you need and some of what you want. People with financial wealth can easily buy food, clothes, and have a safe home. They also have money saved for later, so there are no worries about paying for things.

If you disregard your financial wealth, you live a life of continuously matching inflows and outflows, a never-ending chase for more.

Read More Here: Financial Wealth: 3 Simple Pillars of Mastering Money

Let’s unpack this.

The Old Definition of Wealth was Limited to Only Money

The problem is we are told to “hustle” for financial wealth, but never taught to balance the other four.

Neglecting Social Wealth creates loneliness, isolation and burnout. When you also always sacrifice your Time Wealth for Financial Wealth every time, your Physical and Mental Wealth often suffer. Others wait until they lose their health to start appreciating Physical Wealth.

Sometimes, we focus too much on getting money (financial wealth) and forget about the other kinds of wealth that make life good. For instance, without a healthy body and mind, it’s difficult to fully enjoy and cultivate the other areas.

5 Types of Wealth

5 Types of Wealth

All 5 Types of Wealth are Important for a Happy Life

Having all five types of wealth makes life better and more satisfying.

When you have enough time, you can do what you love or rest without feeling bad. Having good relationships gives you people who help when things are hard and who share your happy moments.

A healthy mind helps you bounce back from problems and think clearly. A healthy body gives you energy and lets you live longer to enjoy life.

Together, these help you do more than just get by. You can live well, feel connected to others, and have purpose.

Learn to Convert Wealth from one type to another

The wealthy life comes from knowing when and how to make these wealth transfers.

Sometimes, the wisest move is to convert Financial Wealth into Time Wealth by outsourcing tasks that drain your energy. Or maybe you’ll trade some Social Wealth by declining a few invitations to boost your Mental Wealth through solitude and reflection.

You can also focus more on a specific type of wealth for a specific season of your life.

In your twenties, building Financial Wealth might take precedence. Then your forties might be the season to cultivate deeper Social Wealth. The key is recognising which wealth type needs your attention during each life season, without completely neglecting the others.

Ask yourself – which of the 5 types of wealth do you need the most? Which ones are you neglecting right now?

Cultivate all the Five Types of Wealth

By consciously cultivating all five types of wealth, you build a robust and resilient foundation for your life.

You gain the freedom to enjoy your resources (time wealth), the support to navigate challenges (social wealth), the clarity to make meaningful choices (mental wealth), the energy to pursue your passions (physical wealth), and the security to live without constant financial worry (financial wealth).

Overcoming the problem of focusing on only one form of wealth leads to a life that is not only prosperous but also deeply satisfying and sustainable.

From Zero to Investor: 3 Investments for Beginners

Inflation is silently erasing your future wealth every day.

When you leave money sitting in a traditional savings account with a bank, it only earns 3-4% interest. Meanwhile, inflation runs at 15-20%. That means the ₦1,000,000 in your savings account today will only buy you ₦840,000 worth of goods next year.

After five years, your million naira will be worth less than ₦500,000 in today’s terms.

Your only solution is to invest.

However, the common problem regarding investments is the fear of loss.

Many people are paralysed by the fear of losing money, which prevents them from ever starting to invest. Fear of loss in investing is like being stuck in quicksand. The more you panic and resist, the deeper you sink.

However, suppose you educate yourself and understand the nature of the risk (the quicksand). In that case, you can find stable points (knowledge) to pull yourself out and eventually reach solid ground (successful investing).

Investing is like Planting a Money Tree

Investing is like Planting a Money Tree

Educate yourself to manage risk, rather than avoid it.

Investments for beginners start with education. Knowledge is your shield, and understanding is your sword. Arm yourself well before entering the financial battlefield.

Beware of information overload when searching for investments for beginners

Investment websites, financial news, constant market updates…

It’s easy to get lost and make impulsive decisions based on fear or hype. Beginner investors are feeling overwhelmed by the flood of information. There are blogs, YouTube videos, X posts, and financial jargon like “dividends,” “bull markets,” or “blockchain”.

The fear of choosing the “wrong” investment amplifies this problem and can force you to keep your money idle in a low-interest savings account, losing value to inflation.

To overcome these hesitations, here are three major investments for beginners you can make right now and the direct steps to undertake these investments:

1. INVEST IN U.S. STOCKS

Warren Buffett got wealthy through this investment.

He transitioned from buying stocks of companies in his country at a young age to owning major shares and eventually owning some of these companies.

Buffett got wealthy for two reasons. The stability of the United States (U.S.) economy was the first reason. And then his consistency, discipline and due diligence.

For U.S. Stocks, think about companies like Apple, Microsoft, or Amazon.  Even a small investment in these giants can yield significant returns over time.

HOW CAN YOU INVEST IN U.S. STOCKS?

Today’s technology makes it possible to buy and sell U.S Stocks as a Nigerian.

For instance, I use a mobile app called Bamboo. Bamboo is a platform that allows you to use your Nigerian (or foreign) bank details to access these shares of U.S. Companies. There is also Trove, but I haven’t tried it out.

As a beginner, start with fractional shares.

Many platforms now allow you to buy a fraction of a share. This makes it accessible even with limited capital. So, instead of waiting until you can afford a whole share of a high-priced stock, begin with what you have.

You don’t need 1,000 shares of a top tech stock of a company in the USA to begin your investment journey. Start with 3 and grow from there.

Do your research and due diligence, too. You might find a more secure, faster and convenient way to buy U.S. stocks if your research is done right.

2. INVEST IN MUTUAL FUNDS

A mutual fund is a form of collective investment where money from many investors is pooled and invested in various securities (such as stocks, bonds, treasury bills, etc.) under the supervision of a fund manager.

In simpler terms, Mutual funds can be imagined as pizza slices where you are able to get extra value (in this case, profit) usually exclusive to the table of the wealthy.

I love mutual funds because of their stability, diversification and relatively competitive returns.

Invest in Index Funds, too.

An index fund is a type of mutual fund or exchange-traded fund (ETF) that tracks a specific market index, like the S&P 500. A Nigerian can now invest in an S&P 500 index fund through a platform like Bamboo or Trove, gaining exposure to 500 of the largest U.S. companies.

Generally, investing in mutual funds reduces individual stock risk and saves you the time and effort of researching and managing individual securities.

HOW CAN YOU INVEST IN MUTUAL FUNDS?

You can always purchase mutual funds from licensed and authorised asset management companies.

For instance, I invest in mutual funds through Anchoria Asset Management Limited. There is also Stanbic IBTC and Zedcrest.

As usual, I advise you to gather knowledge and seek guidance before purchasing mutual funds.

3. INVEST IN CRYPTOCURRENCY

This is the most futuristic and arguably a debatable investment path on this list.

Think of cryptocurrency as the digital frontier of finance. It’s exciting and full of potential. But crypto is also with its own set of unknowns and risks.

For example, Bitcoin is a currency based on complex digital technology and solely traded on the Internet.

For a start, explore established cryptocurrencies like Ethereum or newer, promising projects with strong underlying technology.

HOW CAN YOU INVEST IN CRYPTOCURRENCY?

In the past, I used mobile apps like Luno and Trust Wallet to buy and store my cryptocurrency.

And the returns were really impressive. Personally, I am still sceptical about how these digital currencies operates. So what I do now is to buy a small amount of crypto in Naira, withdraw the capital after a few months and leave the remaining volume in my crypto wallet.

Better safe than sorry. Maybe you can try this method too.

I have also found a safer, faster and better platform – Coinveto. The founder, Ofoegbu, is my friend, and I have bought cryptocurrencies from him and recommended his services to others for over three years. Great guy.

You can check the platform too.

The most important thing is… You must embrace technology and the role it is playing in modern society.

Technology is accelerating rapidly, entering virtually all sectors of the economy. And Money is one of them. So, endeavour to balance both your knowledge and experience before venturing into any investment.

Treat your investments as a diversified garden

Think of your financial portfolio as a garden that needs constant attention and care.

U.S. stocks from big companies are like reliable fruit trees that provide regular harvests (dividends). The sturdy trees that grow slowly but provide shade and stability to your garden are the mutual funds. Then, you have some exotic plants (cryptocurrencies) that can either thrive dramatically or wither unexpectedly.

Each plays a role in the overall health of your garden.

Be a good gardener. Your investment portfolio will always need regular review, rebalancing, and sometimes, complete restructuring. Be the investor who knows how to adapt to these conditions.

Investments for Beginners must go this route

Investments for Beginners must go this route

How to Go from Zero to Investor.

You don’t have to start big.

Start small because these methods far surpass leaving your money in the bank. What people also don’t realise is that your financial confidence compounds like money. Every small win gives you courage for a bigger step.

Your first ₦6k might not double, but your belief in yourself will.

For example, if you earn ₦120,000 monthly, commit to investing ₦6,000-₦12,000 consistently each month across your chosen platforms. Bamboo for U.S. Stocks, SEEDs by Anchoria for mutual funds, or Coinveto for Cryptocurrency.

Don’t overanalyse until you are paralysed.

Pick one platform. Invest a small amount. Learn from action, not just research.

Diversify like a Chef, not a gambler.

Start by allocating 50% of your investment contribution to stable stocks (e.g., S&P 500), 30% to mutual funds, and 20% to crypto. Then rebalance quarterly or yearly.

This is how investments for beginners work.

What if You Lose Money?

All investors lose money.

The key is losing small to learn and earn big. Never be discouraged by short-term fluctuations. Rather, focus on long-term growth. Investing is often a marathon, not a sprint.

Most beginners quit because they expect instant profits. Investing isn’t gambling. It’s planting seeds and nurturing them with patience.

You wouldn’t dig up a mango seed after 2 weeks and complain it hasn’t turned into a tree, would you?

Invest your time, knowledge and then your money in these investments.

Investments for Beginners

Investments for Beginners

Reinvention: How to Live Multiple Lives in 1 Lifetime

Reinvention is how you live multiple lives in one.

Let me explain how. April 12 was my birthday. The birthday came with beautiful prayers, wishes, and messages.

And it felt so good to be appreciated.

The birthday anniversary also reminded me of how fast life moves, with responsibilities and relationships growing stronger or weaker with time.

Time is Constant for Everybody, yet Different for Anybody

When you are in your 20s, you seem to have abundant time.

It’s the same 24 hours for everyone, but you have more energy to stay awake. And so many interests, passions and causes compete for your ‘seemingly infinite’ time.

Whether it’s launching a business or growing your business. Whether it’s finding a new job or maintaining your current job.

Starting an NGO. Or being part of an NGO. Watching a personal development video. Or re-watching a Netflix series.

The options are limitless.

Then suddenly, your time now seems to get shorter with every birthday celebration.

Reinvention: The True Concept of Time

Reinvention: The True Concept of Time

There used to be days when I woke up by 5 a.m., went to work, called friends, read voraciously, wrote over a thousand words, took an online course, slept by 1 a.m., and still felt energetic the next day.

Now, there are days when I struggle to read, return a missed call or finish a 90-minute movie as I try to relax.

Even though you want time to go at your pace, this is when patience comes into play.

The Patience Paradox

In this present age of cybercrimes and the increasing display of wealth, it is easy to sway from the right path.

Let me explain this with a few real-life scenarios:

Example 1: You just started your business. You sell cakes. Or probably clothes.

Your cakes are sweet and amazing. Your clothes are top-quality and fitted.

But the customer patronage is low. The sales are not coming as you expect.

Then you ask yourself, why do I have Few customers?

The keyword is PATIENCE.

Example 2: You wrote your first book. Or built your first app.

You spend a lot of energy and time on it. Excitement overwhelms you. You are hyped up.

You finally launch the book. Your app is live on the mobile app stores.

You get a lot of congratulations, but the users are few.

It’s nothing compared to the resources spent.

Then you ask yourself, why is my book not a bestseller? Why are people not talking about my app with their friends and family?

My friend, the keyword is PATIENCE.

Example 3: You organise an event.

You design flyers and publicise them on social media.

The venue is set.

You even bought light refreshments for your guests. You tell your friends, family and even enemies.

Most of them promise to come. You are already imagining a fully packed event.

Then the D-day comes. Only a handful of people attended.

And some of them only came because they heard there would be small chops.

Then you ask yourself, am I missing something here?

The keyword is PATIENCE.

In these situations, you have two options.

You can either wait for your friends to make money and then buy your products.

Or you can search for clients who are willing to pay for your services.

Both choices will still take time. It will still require PATIENCE.

Does this mean, you should stop trying? Of course not.

Patience is one of the most underrated virtues. It takes patience to stop making rash or stupid decisions when climbing the ladder of success.

It takes patience to analyse a situation and make the right decision.

Reinvention: The Patience Paradox

Reinvention: The Patience Paradox

You can always speed up the process through direct mentorship, deliberate practice and careful observation of the greats.

But you should not skip the process altogether.

Trust the process. Enjoy every moment you spend today in improving yourself and your craft.

Patience is the bridge between lifetimes, and this is when it leads to growth.

Growth – The Misinterpreted Compounder

When we were younger, growth was often defined as the irreversible increase in age and size.

But now that you are older, this concept changes, especially for life itself.

Growth is now the increase in character, competence and convictions.

The attitude you exhibit. The passion and dedication you infuse in your work and craft.

And the values and principles that govern your daily decisions.

As I read some messages on my birthday, I rediscovered that growth is not just counting the number of birthdays you have witnessed so far on Earth.

But it’s also in the quality of your relationships – people above, below and on your level.

Growth is reflected in your influence over people and in the values you try to teach and learn daily.

Reinvention: What Growth also Means

Reinvention: What Growth also Means

The destination may change. The career prospects may not be what you planned it to be.

But one thing is still sure,

God’s Grace. Dedication. Diligence. Perseverance. Execution. Creativity.

The principles that worked for successful people will still work for you and me too.

Growth is the soil where your multiple lives bloom.

The Rule of Reinvention

In my “past lives”, I have been a laptop seller, graphic designer, biology undergraduate and even a client experience officer.

Elon Musk worked on online maps, business directories, and financial services before he became CEO of Tesla. Dangote imported and distributed commodities before he started manufacturing. Jesus Christ was a carpenter, healer and teacher before he became the saviour.

Most people replay the same year 10 times and call it a decade.

They work, sleep, scroll, repeat. They do not evolve, only age. That’s not life.  That’s existing.

Living multiple lives in one lifetime requires intentional evolution, not just passive endurance.

Leonardo da Vinci didn’t just paint the Mona Lisa; he was an inventor, scientist, and architect. Each pursuit was a “life” he lived within one lifetime. Oprah shifted from news anchor to media mogul to philanthropist. Each phase was a distinct “life.”

The key to reinventing yourself is to learn skills and keep compounding them. Every new skill is a new life. So, try to learn and apply one life-changing skill per year.

Coding, storytelling, public speaking, negotiation, photography — each opens a new version of you.

My book, Fast Track, can help you learn skills and place you on the path of reinvention in a shorter time.

Embrace skill stacking. Don’t see learning as ending with formal education or your current job. Actively seek out and dedicate time (even just 30 minutes a day) to learning a skill completely unrelated to your main hustle.

Use Patience to build competence, let time allow it to mature, and watch how this new skill adds another “layer” or potential “life” to your existence.

Treat your Life as a Netflix Series

Think of your life not as a single career path or role, but as a Netflix series.

Just as how a Netflix series rarely stops at a single season, you should not limit yourself to one version. Develop all aspects of yourself.

Each reinvention of yourself is a new season.

Your season 1 can be “the Hustler”. Season 2 can be “the Learner”. Your season 3 can be “the Baller”

You don’t cancel the show after one season. You keep producing, rewriting, shocking the audience. The plot twist is your responsibility.

Living multiple lives means actively working and balancing these different storylines in your series over time.

Some seasons might be excellent while others are just okay, and you might add entirely new storylines throughout your lifetime. Time allows each episode to improve, Patience helps you get better seasons (life challenges), and Growth is the overall increase in your series’ value (your richness of experience and character).

Don’t let your years pass by and track only birthdays.

Create intentional ceremonies or markers when you’re entering a new “life” phase.

What about the day you started your first business? Or started a new job? Did you mark the day you moved to a new city with just faith and your laptop?

Create the Right Timeline

Create the Right Timeline

In the End, Reinvention is for Your Own Good

When you cultivate different aspects of yourself – different skills, different roles, different knowledge bases – you build incredible resilience.

If one area of your life faces a setback (like a job loss, a business downturn), you have other developed parts of yourself to lean on, draw strength from, or even pivot towards.

You’re not a “one-season wonder.” You’ve lived multiple lives and learned different ways of thinking and problem-solving.

This adaptability, nurtured by patience through various growth cycles over Time, makes you better equipped to handle the inevitable uncertainties life throws your way.

You bounce back faster and see opportunity where others see only crisis.

This is how you will live multiple times in a Single Lifetime.

Reinvent Yourself Often

Reinvent Yourself Often