The COVID-19 outbreak is teaching us a lot about ourselves, but especially that life isn’t all about money. If you want to find out the eight different types of capital that will help you stay resilient, then this week’s blog is for you!

Recently, I’ve been thinking about two people I’ve met over the last year. I’ve already shared with you that I met a number of people at the New Orleans Investment Conference, two of which had a particularly positive impact on me. These people are Dr. Chris Martenson, PhD and Adam Taggart. They wrote a book called Prosper! that I ended up buying, but I had no idea they would make such a big impact on me. In this book, they talk about the concept of being resilient, which is when you build up your knowledge, resources, and capabilities over time in order to be successful. In the book, they talk about eight different types of capital.  Given the things that are going on in the world right about now, I thought this was the right time to pass forward these words of wisdom with you.

 

The first type of capital is time. This one is particularly important because we never get it back once we run out of it. As a result, you need to make sure you’re maximizing the amount of time you have with yourself, your loved ones, your business, etc. This commodity, in particular, is one that’s been affected heavily over the last few months thanks to the pandemic.

The next type of capital is called living capital. This is another important one because it focuses around your health and fitness. It’s all about what you’re doing to make sure you’re living with as little stress as possible. You want to be mentally and physically fit so you’re able to go out and live your life and run your business as smoothly as possible.

 

Next is material capital. This can include your home, your car, or anything that might help you get by day to day, such as your computer in your office. It’s easy to see why this kind of capital is so important because these are the tools you need to run your business.

The fourth kind is cultural capital. This is when we sit around and talk. Think about your grandparents and the stories they’ve shared with you. This is important because it helps you become an even richer individual. You’ll have a connection to other people and their stories, which will undoubtedly enrich your own life.

Emotional and spiritual capital make up the next type. This is about staying connected with your inner being and understanding how important it is to focus and have empathy with others. It’s important to socialize with others, not only for cultural capital, but also to increase your emotional and spiritual capital, too.

Knowledge capital is also connected to these other types, as it encompasses everything you have learned. It’s important to keep learning and take in the maximum amount of opportunity to gain new knowledge. Once you do that, you can put it into action and reap the benefits. You can also help others, which feeds into other types of capital as well.

The seventh type of capital is social, which includes all of your relationships, whether they’re public relationships other people know about or private relationships that people aren’t as aware of. These relationships are the ones that have helped us get through this difficult time. There is strength in groups, and some types of groups can become masterminds, which are vital to increasing your business success.

Lastly, we’ve come to financial capital. This one is the most obvious, as it’s the type of capital that allows you to buy and sell according to your needs. While this one is incredibly important, it’s not the only type, and having a lot of financial stability won’t buy you success if you’re lacking other kinds of capital.

Once again, consider purchasing Prosper! by Chris Martenson, PhD and Adam Taggart. This book has helped me focus on different types of capital in order to become more resilient, and I want to help you by sharing some of the information found within its pages.

For those who don’t know me, I’m Billy Keels with KeePon Cashflow. I like to share a number of different strategies and tips for how you can make more money, have control over your free time, and ultimately live with less stress.

If it’s your first time here, I’m going to ask that you please subscribe to the blog, subscribe to our YouTube Channel, like our Facebook FanPage and follow us on our Instagram and Twitter channels. If you find value in this post, please like and share it with your friends. By sharing it, you’ll help bring in more like-minded people, which will help the community grow. We’ll be able to share and learn together. Thank you ahead of time for helping us do that.

If you’d like to learn more about how I work a corporate job and have been building my own real estate business on the side, you can simply click HERE for your free eBook. It’ll help you avoid making the same mistakes I did.

That’s my two cents for today. As always, hasta la próxima.

You can also check out my latest podcasts and collaborations here keeponcashflow.com/podcasts/