More Purpose In Retirement? Try Ikigai.

Ikigai, a Japanese concept that translates to "reason for being," is a powerful tool for finding fulfillment and purpose in life. This concept can be particularly useful in retirement, as it can help individuals discover new passions and hobbies to fill their time and keep them engaged and fulfilled.

Ikigai involves finding the intersection of four elements: what you love, what you are good at, what the world needs, and what you can be rewarded for. By identifying these elements and combining them into a single pursuit or activity, individuals can create a sense of purpose and fulfillment that can help them thrive in retirement. The key is to consider how you would like to be rewarded through your ikigai - intrinsic or extrinsic.

Intrinsic rewards are internal rewards that come from within an individual, such as a sense of accomplishment or fulfillment. These rewards are typically associated with the personal enjoyment or satisfaction that comes from engaging in an activity or achieving a goal. In contrast, extrinsic rewards are external rewards that come from outside sources, such as money or recognition. These rewards are typically associated with the tangible benefits or incentives that individuals receive for engaging in an activity or achieving a goal.

One key difference between intrinsic and extrinsic rewards is that intrinsic rewards are typically more long-lasting and satisfying, as they come from within and are associated with personal enjoyment or fulfillment. In contrast, extrinsic rewards can be more fleeting and less satisfying, as they are dependent on external factors and can be subject to change or fluctuation. Additionally, intrinsic rewards are often more motivating, as they are associated with personal satisfaction and enjoyment, whereas extrinsic rewards can be less motivating, as they are dependent on external factors and can be less satisfying.

For example, a retired teacher who loves spending time outdoors and is skilled at gardening could combine these elements by starting a garden that provides organic produce to the community. This not only allows the individual to pursue a passion and use their skills but also meets a need in the world and provides a source of intrinsic reward.

Another example could be a retired engineer who loves travelling and is skilled at planning trips. They could start a travel planning business that helps others plan their dream vacations, combining their love of travel and planning skills with a service that the world needs and can be extrinsically rewarded for.

In both of these examples, the key to finding ikigai in retirement is to identify what you love, what you are good at, what the world needs, and what you can be rewarded for, and then find a way to combine these elements into a fulfilling and meaningful pursuit.

In addition to providing a sense of purpose and fulfillment, finding ikigai in retirement can also have practical benefits. By starting a business or engaging in a fulfilling activity, individuals can continue to generate rewards and stay active and engaged in the world. This can help prevent feelings of isolation and boredom that can often come with retirement and can lead to a happier and more fulfilling retirement experience.

Overall, the concept of ikigai can be a powerful tool for finding fulfillment and purpose in retirement. By identifying what you love, what you are good at, what the world needs, and what you can be rewarded for, and then combining these elements into a single pursuit, individuals can create a sense of purpose and fulfillment that can help them thrive in retirement.

For more information about ikigai, consider reading my book How To Ikigai.