True Wealth Goes Beyond Money

Summer is here and Brett and I had the opportunity to kick off the season with a trip to Belize for the Real Estate Guys Investor Summit 2022.

It was an amazing experience and we had a lot of great takeaways — but there’s something that was discussed by a number of different thought leaders that I’d like to zero in on: the 8 forms of capital.

Building Resiliency: The 8 Forms of Capital

This concept was made popular by Peak Prosperity’s Chris Martenson, PhD & Adam Taggart in their book, Prosper!: How to Prepare for the Future and Create a World Worth Inheriting.

In this book, Chris and Adam explain how you can build a resilient life, achieve prosperity, and improve your overall wealth by gathering resources in these 8 forms of capital.

The beauty of building your resiliency is that you are well-prepared for the worst— so you can live with peace of mind and maintain a higher (and hopefully, happier) standard of living.

Building resiliency is crucial in facing times of crises like an economic downturn, natural disaster, or even a pandemic like COVID-19.

I know I’m not alone when I say that it took more than just money (or financial capital) to get through the quarantine. I leaned on my family, friends, and personal resolve.

I’ve previously discussed a “mindset revolution” towards our work and jobs that took place in the past few years. We’ve all had the opportunity to reconsider the way we live.

Now’s the time to assess your life by the principles behind these 8 forms of capital… How do we improve ourselves, become more resilient, and build “true wealth”?

Take The Resiliency Audit

This framework prompts us to measure our wealth across the different aspects of our life. Let’s put it to the test.

How “rich” are you in each of these forms of capital?

Take a moment to reflect over these questions…

Financial Capital

• How financially free are you? Are you able to generate income without actively working?

Living Capital

• What is your standard of living? Your health and wellness? Are you physically and mentally healthy?

Material Capital

• Do you have a home? A car? Property that you own that can be passed down to the next generation?

Knowledge & Intellectual Capital

• What do you know? What skills have you acquired? Are you willing to continuously learn?

Emotional and Spiritual Capital

• How well do you know yourself? Do you have emotional strength? Who are the folks you lean on in times of trouble?

Social Capital

• Are you held in goodwill by others? How do you contribute to your community? How are you connected to those around you?

Cultural Capital

• Do you enjoy the culture that surrounds you? The art, music, stories, history, and holidays of your community and heritage?

Time Capital

• Are you using your time significantly? With purpose and impact?

We have to think about our wealth from all these different perspectives. When we begin to really develop these domains, we can find greater purpose in our lives.

I hope these questions help start a conversation with yourself.

If you’d like to talk about anything I discussed, let’s schedule a call!

I’d be happy to help you on your journey towards true wealth.

Don’t forget: you have a family here at REIP.