Questions to help you explore your purpose and values

We usually know what our goals are. But our purpose, that driving force behind the goals, can be harder to put into words.

For example, if we own a shoe factory, our goal might be to ship 1,000 boxes of shoes a day. But what’s our purpose—the impact we hope to have—in setting this goal? That might be a harder question to answer.

There’s no single way to start exploring your purpose. “My method is more free-form, although there are lots of great tools out there, books to read, and guidance,” said Alex Wagner, who has worked on purpose-related programs at Truist, in Episode 2: How to explore your purpose from Truist Wealth’s podcast, I’ve Been Meaning To Do That.

Questions for exploring your purpose

If you need more nudging, you can start by asking yourself questions that help you reflect on your life and start connecting the dots to your purpose. Here are several to start with:

• What experiences have had a big impact on my life?
• What did I love doing as a child, and why?
• What makes me happy as an adult, and why?
• How do I define success?
• How do I want to be remembered?

Other questions you can ask:

• If I had only a year to live, what would I want to do?
• What are my most meaningful accomplishments?
• What would I do if money were no object?

Purpose comes from values—what are yours?

These questions can drive introspection. As you’re thinking through the answers to these questions, you can also start studying your core values. Values guide your behavior and represent what’s important to you. Think of them as the roots of your purpose.

Researchers who study values don’t agree on how many of them people have. A list of values can extend to 200 or more. You can start with this list:

Then ask yourself the following questions about values:

1. Which 10 values mean the most to you?
2. Of the 10, which five are the most important?
3. Can you detect any key themes of your most important values?
4. Which 10 values are the least important to you?
5. Are there any key themes of your least important values?
6. Do you think any of your choices are different from those of people who are most important to you?

Connect values and purpose—on your timetable

Oscarlyn Elder, Truist Wealth’s co-chief investment officer, values education. “It goes back to my childhood,” she said. “Education was really important, especially to my mother. If she wanted us to do something at home, she would actually threaten to not send us to school. So, she would say, ‘If you don't clean your room, you’re not going to school tomorrow.’ And we would do it, because we really wanted to go to school.”

Today, she’s thinking about ways she can express that value in her purpose. “An element of my purpose is about creating better futures, and that really captures the value of education,” said Elder, who hosts the podcast. She’s considering how to fulfill her purpose with respect to education for younger family members.

If reflecting on your values and purpose—and how values connect to your purpose—doesn’t come easily to you, that’s OK. “Digging deep and connecting the dots between what you value and how that ladders up to what imprint you want to have doesn't come easily,” said Erica Shalhoup, who supports purpose-related initiatives at Truist. “That doesn't come in one sitting and that doesn’t come without taking a moment for yourself.”

Interested in taking the next step? Check out our worksheet that accompanies Episode 2. Then contact your advisor to discuss developing wealth objectives that are consistent with your purpose and values.