Money really matters but more importantly meaning to a life really matters for a good life.Without a purpose or meaning is like without an eye sight.
The forward was needed before sharing an article I recently came across about the study done by Metlife Mature Market Institute(MMI) in continuation to their 2009 study. It was titled Meaning Really Matters: The MetLife Study on How Purpose Is Recession-Proof and Age-Proof.
Let me share some good and important snapshots about the study.
In 2009 study, it was asked to people in their 20s, 30s, and early 40s have the same priorities and find meaning from the same activities as 45- to 74-year-olds? Do adults in very different life stages and situations prioritize important personal, professional, and financial decisions based on similar core values? This 2010 study focused on ages 45-74 to discover What Matters: Balancing Money, Medicine, and Meaning.
Both studies are based on the work of life coach and best-selling author Richard Leider, and confirm his theories. To Leider, a sense of purpose is integral to leading what he describes as “the Good Life,” defined as having financial freedom (Money), being mentally and physically healthy (Medicine), creating deep relationships and a sense of purpose (Meaning), and feeling like you belong (Place). Achieving the Good Life requires vigilant revisiting and realigning of priorities in these four areas.
Living the Good Life also means weathering significant changes and transitions caused by positive or negative “trigger events” (i.e., job loss, marriage, illness, the birth of a child or grandchild, divorce, moving, retirement, death of a loved one). Leider believes these events are resolved in three phases:
• Unpacking, or letting go of the way things used to be, involves sorting out what is really important and makes people happy from what is not important and holds them back.
• Repacking, or taking hold of the new way that will allow people to attain their Good Life, involves the clarification of values, new goals, and the discovery of new tools for getting there. It is the process of mapping out the road ahead — one that will truly take them where they want to go with the life essentials they want to bring along the way.
• Limbo is a state of flux and uncertainty between unpacking and repacking. It is a period where people’s “vision” of what they want their future to be is uncertain, or where they lack “focus” on the most important aspects that will get them closer to their Good Life.
Key Findings of the 2010 Study
The Essential Components of the Good Life Are Very Stable
• Respondents define the Good Life in terms of the three Ms: Money (having enough), Meaning (time for friends and family), and Medicine (good physical and mental health).
• Living the Good Life is highly related with having a sense of purpose and this in turn is interrelated with “vision” (having clarity about the path to the Good Life) and “focus” (knowing and concentrating on the most important things that will get you to your Good Life).
• Meaning, closely associated with the importance of family and friends, remains the primary component of the Good Life for all age groups, despite instability in financial and other aspects of their life. People plan to spend time with amily and friends above all else, regardless of age.
How do you define a Good life?
Ah, the Good Life!
Respondents defined it as:
• “Being spiritually, emotionally, mentally, and physically healthy”
• “Having enough money not to worry about whether or not I can pay the bills; good
friends to share life with”
• “Having a safe, healthy, and happy life with family and friends”
The chief Components of the Good Life: Living with Purpose, Having a Positive Vision of Your Future, and Focusing on What Will Get You There.
Similar to the 2009 study, purpose continues to be a major differentiator between those living the Good Life and those who aren’t living the Good Life. Over eight in 10 (82%) of those who feel their lives have purpose are living the Good Life compared to 35% who are not living the Good Life.
Purpose is more than an intriguing concept; it is essential for fulfillment. It also helps people get through “trigger” events that everyone will inevitably encounter, whatever their life stages or circumstances. Richard Leider provides particular insight into the complexities and ultimate benefits of balancing money, medicine, meaning, and place in our own personal journey:
courage. As life expectancy continues to increase, Money, Medicine, Meaning, and Place will become even more significant and challenging. Yet, these challenges can also be positive because they can lead to new points of view and knowledge essential to succeed in the future.”
“The longevity revolution demands a new mindset and skills, not to mention
The need for the purpose and meaning resonates closely with my mantra of having Goals in your life and defining plans(vision) to get there executing with taking action(focus).
You can read more about this study from the study.
Source courtesy: mymoneyblog.com