On Finding Purpose and Significance

Recently, I penned a post about navigating the transition to our retirement years and how challenging it can be to step back from work and find yourself in a new part of your life. As I was reading back over the text, it made me think about all of the conversations I’ve been blessed to have with clients over the years…getting to know them and learning more about they way they want their story written.

That’s the real challenge of retirement. Not just managing money, but managing meaning. We can have a plan, we can manage investments and cash flows, but how are we making this chapter purposeful and significant for us…and more importantly for our families?

When I talk with clients who’ve made the transition well, the ones who seem most grounded didn’t retire from something. They retired to something. They replaced the structure and purpose of work with something equally intentional, even if it looked completely different.

For some, that meant mentoring young professionals in their old field. For others, it was finally opening that woodworking shop or helping a local nonprofit grow. But there’s a pattern: purpose doesn’t happen by accident. It has to be designed with as much care as a financial plan.

The happiest retirees I know have found a version of purpose that fits their personality – something that uses their time, talent, and resources in a way that still feels alive. That’s where wealth planning becomes more human. Because once you have enough, the real question becomes, enough for what?

The Next Chapter of “Why”

When financial security is no longer in doubt, your “why” shifts. The spreadsheets fade into the background, and what takes center stage is the question of impact. What do you want this next chapter, and your wealth, to mean?

Over the years I’ve seen families answer that question in a dozen different ways. They didn’t always call it “purpose,” but that’s what they were building…a sense of direction that connects their money to meaning.

Here are a few of the ways that shows up:

Education as a Family Value
For some, the purpose of money is to fuel lifelong learning. They fund not just college tuition, but curiosity itself – helping with study abroad programs, research projects, or continuing education for adult children. One family framed it perfectly: “We don’t just pass down money. We pass down curiosity.”

That mindset turns financial support into an ongoing investment in growth. It tells younger generations: you don’t have to know everything, but you do have to keep learning.

Shared Family Experiences
Other families use wealth to buy something money can’t: time together. They create family travel funds or host annual reunions at a favorite place. Each year a different branch of the family tree gets to choose the destination. The point isn’t extravagance, it’s connection. These families understand that the memories will outlast the itinerary.

Entrepreneurial Spirit
Some families want to pass along the spark that got them where they are. They set aside funds for heirs to start businesses but with structure. There’s a pitch process, a proposal, a sense of accountability. The message is clear: “We’ll invest in your ideas, but we want to see your vision and commitment.”

That blend of trust and discipline encourages creativity and keeps wealth from dulling ambition.

Community Legacy
Then there are families whose purpose looks outward. They fund local libraries, theaters, or parks – not just through donations, but by showing up. One family I know endowed a small community theater, and now every playbill reads: “Made possible by the ___ family.” That small line tells a story that will outlast them.

Preserving Family History
Some families use their resources to document who they are. They commission books, record oral histories, or digitize generations of letters and photos. Purpose here isn’t about what they’ll leave behind – it’s about ensuring the story doesn’t fade. One client told me, “If my great-grandkids know who we were, they’ll know what mattered to us.”

My wife Lizy and I have been writing down what we’ve done together every weekend since we first started dating, filling up multiple notebooks, and hope to pass this down to our children and grandchildren in the future to help tell our story.

Health and Well-Being as a Legacy
Purpose doesn’t have to sound grand. For many, it’s simply about keeping their family healthy and whole. That might mean funding wellness retreats, outdoor adventures, or trusts that cover future healthcare costs. The message is the same: we want our family to thrive, not just survive.

Teaching Generosity Through Grantmaking
One of the most powerful ways I’ve seen families cultivate purpose is by giving younger generations the chance to give. Some set up small annual “grantmaking” budgets for their kids and grandkids, a few thousand dollars each, and let them decide where to direct it.

The goal isn’t charity; it’s education. It’s about building the muscle of generosity early so giving becomes a habit, not a headline. Families that do this talk about watching their children light up as they choose causes close to their hearts – animal rescues, scholarships, environmental cleanups. The money may not move markets, but it moves people.

And in the process, it turns family values from something written in a letter to something lived out loud.

The Emotional Math

Money can buy comfort, security, and freedom. But those alone don’t create meaning. Purpose is the emotional return on investment, the thing that keeps wealth from feeling hollow.

And it doesn’t have to be complicated. In fact, the most meaningful forms of purpose are usually the simplest. Planting trees you’ll never see grow. Teaching your grandkids to be curious. Supporting a cause that makes your corner of the world a little better.

What’s interesting is how this clarity changes a person’s relationship with money. When your purpose is defined, financial decisions become easier. You’re no longer optimizing for “more.” You’re optimizing for alignment with your values, your family, and your future.

I’ve seen clients who once agonized over every market fluctuation suddenly relax once they tie their money to meaning. Volatility doesn’t sting as much when you know what you’re working toward.

Making It Personal

The trick is to make purpose personal, not prescriptive. There’s no right answer. For one person, it might be funding a scholarship. For another, it’s spending a month each year volunteering abroad. For another, it’s simply being more present with family.

If you strip it down, purpose comes from three places: what you value, what you’re good at, and who you want to impact. Retirement gives you the freedom and the time to align those three things.

So if you’re approaching or already in retirement, it’s worth asking:

• What makes my days feel meaningful?
• What values do I want my family to remember about me?
• How can my wealth reflect those values, not just today but for generations?

These aren’t financial questions, but the answers shape everything about your financial plan. They determine how you spend, give, and invest. They define what “enough” truly means.