As a financial planner with decades of experience and a long-time meditation practitioner, I’ve come to realize that success in both finance and life often hinges on one crucial element: purpose.
Let’s explore how identifying and aligning with your purpose can transform seemingly insurmountable challenges into achievable goals.
The Power of Purpose: Overcoming Self-Imposed Limitations
We’ve all been there – uttering phrases like “I can’t” or “I won’t” when faced with challenges or new opportunities. Throughout my life, I’ve had more than my fair share of these moments. Over the years, I’ve learned that these self-imposed limitations often crumble when we discover a compelling purpose.
A 30-Year Dream Realized
For three decades, I harbored a desire to travel to London, but the prospect of an 11-hour flight always deterred me. I kept making excuses, wondering why I should endure such a long journey when New York was just half the distance away.
Everything changed when my son announced he was pursuing graduate studies in London. Suddenly, the flight duration became inconsequential. Why? Because I found a purpose greater than any previous reason for visiting this incredible city.
This experience taught me a valuable lesson: when we align our actions with a strong sense of purpose, even the most daunting tasks become manageable.
Aligning Purpose in Various Life Aspects
To harness the power of purpose, consider your intentions in these key areas:
- Work
- Personal finances
- Relationships with family and friends
- Health and well-being
For each aspect, strive to identify a purpose that makes your intentions easier to fulfill. If you struggle to find a substantial purpose in a particular area, it might not be the right time to pursue that goal. This realization can free up your energy for other intentions where you do have a sufficient purpose.
Financial Goals and Purpose: A Great Partnership
As a financial planner, I’ve witnessed firsthand how purpose can dramatically impact one’s financial journey. If you’ve been trying to save money or increase your income, ask yourself: what purpose would make that easier to accomplish? Some common purposes include:
- Living with less work, financial, and investment stress
- Buying a stable home for your family
- Funding your children’s education
- Securing a worry-free and engaged retirement
With a strong purpose, financial goals that once seemed unattainable become not only doable but often fulfilling to pursue.
The Transformative Impact of Purpose
A robust sense of purpose can turn seemingly overwhelming tasks into manageable ones. For instance:
Working long hours: Without purpose, a 40-60 hour work week can be detrimental to your well-being. However, with a clear purpose (e.g., building a legacy for your family or making a significant impact in your field), it can become not only doable but potentially fulfilling.
Saving money: When you have a compelling reason to save, such as achieving financial independence or funding a dream vacation, the act of setting aside money becomes less of a chore and more of an exciting step towards your goals.
Investing for the future: Understanding the purpose behind your investments – whether it’s for retirement, your children’s education, or philanthropic goals – can help you stay committed to your investment strategy, even during market volatility.
Finding Purpose in Everyday Activities
The beauty of purpose is that it can infuse meaning into even the most mundane tasks. Here are some examples I try to practice regularly:
- Doing the dishes: For the peace of mind that comes from a clean kitchen
- Meditating: To cultivate inner peace and improve overall well-being
- Writing a work email: To help a colleague or a team achieve greatness
When we approach these activities with purpose, we not only gain energy but also improve the quality and results of our actions.
What Purpose Might You Find?
Remember, the wind is at our backs when we have purpose. Whether it’s flying across the ocean to visit family, saving for a major financial goal, or simply tackling day-to-day tasks, a strong sense of purpose can transform challenges into opportunities for growth and fulfillment.
I encourage you to take some time this week to reflect on your financial and personal goals. Ask yourself:
What is the underlying purpose driving these goals? How can I strengthen my connection to this purpose?
By aligning your actions with a clear and meaningful purpose, you’ll find yourself better equipped to overcome obstacles and achieve the life you desire.
Disclosure:
Abacus Wealth Partners, LLC is an SEC registered investment adviser. SEC registration does not constitute an endorsement of Abacus Wealth Partners, LLC by the SEC nor does it indicate that Abacus Wealth Partners, LLC has attained a particular level of skill or ability. This material prepared by Abacus Wealth Partners, LLC is for informational purposes only and is accurate as of the date it was prepared. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Advisory services are only offered to clients or prospective clients where Abacus Wealth Partners, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Abacus Wealth Partners, LLC unless a client service agreement is in place. This material is not intended to serve as personalized tax, legal, and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Abacus Wealth Partners, LLC is not an accounting or legal firm. Please consult with your tax and/or legal professional regarding your specific tax and/or legal situation when determining if any of the mentioned strategies are right for you.
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