I was recently reading a piece that opened with a quote from Ralph Waldo Emmerson: “The purpose of life is not to be happy. It is to be useful, to be honourable, to be compassionate, to have it make some difference that you have lived and lived well.’
Now I’m not sure about the first sentence, but I am certain that what follows goes some way to accomplishing a happy fulfilled life. There’s another way to think about it too – using the framework of ikigai.
Ikigai (生き甲斐) is a Japanese philosophical concept that translates to “a reason for being”. It represents the intersection of what you love, what you are good at, what the world needs, and for what you can be paid. This philosophy encourages people to find their purpose and live a life of meaning and satisfaction. In the modern world, this can also help us find the sweet spot between our personal and professional lives, and our goals for the future.
When these elements align, they create a sense of purpose and fulfilment that can lead to a more balanced and happy life.
From my perspective as a financial adviser, the concept makes a tremendous amount of sense. We’ll get more into how ikigai and investment link up in part two, next week.
By finding your ikigai, you can lead a more balanced and happy life. It also gives us greater motivation, and a sense of direction where we may otherwise float or flounder.
Having purpose is something of fundamental value to us as human beings. A 2022 study from Boston University’s School of Public Health suggested that having a purpose lowers all the risk of all causes of mortality, across all genders, races, and ethnicities – and the effects were more pronounced on women.[i]
7 Steps to Finding Your Ikigai:
Finding your ikigai can be a satisfying journey. Here are some practical steps to help us discover it…
1. Self-Reflection
Identify what you love, and what you’re good at. Make a list of activities that you love doing and that bring you joy and make a list of both professional skills and personal talents.
2. Explore and Experiment
Try new things! Engage in different activities and hobbies to see what resonates with you. You might try volunteering with a local organisation as that first small step; helping others can provide insights into what the world needs and how you can contribute.
3. Seek Feedback
Talk to friends, family, and colleagues about what they see as your strengths and unique qualities. Pay attention to the positive feedback you receive and consider how it aligns with your passions and skills.
4. Find the Intersection
Here’s where you need to be a little discerning. Draw a diagram with four circles representing what you love, what you are good at, what the world needs, and what you can be paid for. Look for the overlap. Focus on the areas where these circles intersect to identify potential ikigai.
5. Adapt and Evolve
Your ikigai may evolve over time as you grow, and your circumstances change. It’s so important to allow some fluidity in your purpose, your goals, and your expectations for yourself.
Try to stay curious. Continuously seek new experiences and knowledge to refine your understanding of your ikigai.
6. Act
Set goals and put them in motion: Define clear, actionable steps to pursue your ikigai. It’s going to take some commitment. Dedicate time and effort to activities that align with your ikigai, even if it means making slight changes in your daily routine.
7. Reflect Regularly
Periodically review your journey and adjust as needed. Additionally, don’t forget to celebrate milestones along the way! Acknowledge the achievements and progress you make, even the small stuff.
Lessons we can take from ikigai
I appreciate there’s a lot of direction in the above. In life as in finance, the first move is the hardest – so don’t make it a gigantic, terrifying leap. Look to reach your goals by making small, easily attainable steps first. Finding your ikigai is no different. Start with what’s easy and go from there.
Starting small gives you the ability to set up good habits, and ‘small’ contributions to your goals quite often add up to something bigger before you realise it. Finding your ikigai isn’t about trying to be perfect right away; you’re trying to do a little better all the time and learning from your attempts along the way.
Ikigai also encourages you to be accepting of yourself as who you are, rather than comparing yourself to others, your unique traits, your dreams, and your individuality. Focus on your growth – not on keeping up with the Joneses or doing things because it’s what everyone else does.
Additionally, ikigai recognises our innate need for reward. You may have heard someone say, “it’s the little things, that make life worth living”. They’re right.
Whether it’s that first cup of aromatic coffee in the morning, the sun on your face during a walk, or even just a little quiet moment before you start the day – putting little rewards into your routine can help by sprinkling some dopamine over everyday tasks. More joy in those moments leads to more joy in others, which can again help you stay on the even keel while working towards your goals.
While planning for the future is important, so is being present today. By grounding ourselves in the here and now, we remove some of the pressure that might come from thinking always of the future and can free up space for creativity and learning.[ii]
Give finding your ikigai a go – and come back for part 2 to find out how this mindset can help you on your financial journey.
Bruce Jenks is a financial adviser at Stewart Group, a Hawke’s Bay and Wellington-based CEFEX & BCorp certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, wealth management, risk insurance and KiwiSaver scheme solutions. Article No 386.
The information provided, or any opinions expressed in this article, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from a Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz
[i] https://www.medicalnewstoday.com/articles/longevity-having-a-purpose-may-help-you-live-longer-healthier#Living-longer-and-healthier-with-purpose
[ii] https://ikigaitribe.com/podcasts/podcast06/#tve-jump-18b938ae76c
