ChooseFI Episode 528: "The Purpose Code" with Jordan Grumet – Detailed Summary

In Episode 528 of ChooseFI, hosts Brad and Jordan Grumet delve deep into the intricacies of finding personal purpose beyond financial independence. Jordan, the host of the Earn and Invest podcast, discusses his forthcoming book, The Purpose Code: How to Unlock Meaning, Maximize Happiness, and Leave a Lasting Legacy, offering listeners a comprehensive framework for identifying and cultivating personal purpose.

Introduction to "The Purpose Code"

Brad (00:00):
Brad opens the episode by welcoming Jordan Grumet and announcing the release of Jordan's new book, The Purpose Code, set to launch on January 7, 2025. He emphasizes the book's significance in the FI (Financial Independence) community, highlighting its focus on living a meaningful life beyond just financial metrics.

Jordan (01:16):
Expresses excitement about sharing his work and its relevance to the community.

Big P vs. Little P Purpose

Defining the Two Types of Purpose (02:16 - 05:53):

Jordan (02:16):
Introduces the concept of Big P Purpose and Little p purpose.

• Big P Purpose:

  • Characteristics: Audacious, goal-oriented (e.g., curing cancer, starting an eight-figure business).
  • Challenges: High risk of failure, all-or-nothing mindset, often rooted in proving one's worth.
  • Outcome: May lead to burnout or continued dissatisfaction even after achieving the goal.

• Little p Purpose:

  • Characteristics: Process-oriented, focused on activities that bring joy regardless of end goals.
  • Advantages: Feels abundant, hard to fail, encourages continuous engagement and exploration.
  • Outcome: Enhances happiness and fulfillment through enjoyable processes rather than distant achievements.

Brad (05:53):
Expands on the pitfalls of Big P Purpose, questioning the sustainability of happiness even after achieving significant goals. For instance, attaining a high-status position might not bring lasting satisfaction.

Meaning vs. Purpose

Understanding the Distinction (03:59 - 07:18):

Jordan (03:59):
Clarifies the often-confused relationship between meaning and purpose.

• Meaning:

  • Focus: Reflects on the past, how individuals interpret their life stories.
  • Happy Narratives: Viewing oneself as a survivor overcoming trauma ("I had this trauma, but I made it through.").
  • Unhappy Narratives: Seeing oneself as a victim perpetually thwarted by past traumas.

• Purpose:

  • Focus: Centers on the present and future, emphasizing actionable steps.
  • Approach: Engaging in activities that bring joy without the pressure of achieving specific outcomes.

Brad (07:18):
Asks how individuals with negative perceptions of their past (meaning) can transition to cultivating purpose. Jordan suggests rebuilding one's narrative through therapies like narrative therapy, which helps reframe past experiences to foster a sense of sufficiency and readiness to pursue joy-oriented activities.

Integrating Purpose into Financial Independence (Little P Purpose as FI)

Applying Little P Purpose to FI (11:31 - 15:14):

Jordan (11:31):
Uses Financial Independence (FI) as an example to illustrate how purpose can be both Big P and Little p.

• Big P FI:

  • Example: Struggling through a 10-year grind to achieve FI solely to quit a disliked job.
  • Issue: Post-achievement, individuals might still feel unfulfilled if they lack a clear "why" for their FI.

• Little p FI:

  • Example: Developing a passion for FI, enjoying the process of investing, and feeling empowered by incremental progress.
  • Benefits: Enhances agency over one's life, making the journey enjoyable and aligned with personal joys rather than purely financial goals.

Brad (14:22):
Affirms that Little p Purpose aligns with ChooseFI's mission, emphasizing that FI is not just about money but about creating a life filled with purposeful activities.

Finding and Building Little P Purpose

Identifying Purpose Anchors (16:56 - 27:03):

Jordan (16:56):
Introduces the concept of purpose anchors—small, passion-driven elements that can be built upon to create a life of purpose. Offers four actionable strategies to identify these anchors:

1. Life Review Through Regret:

   • Exercise: Ask oneself, "If I were to die tomorrow, what would I regret not having done?"
   • Purpose Anchor Example: Realizing a desire to write a book can lead to pursuing writing activities.

2. Joys of Childhood:

   • Exercise: Reflect on childhood interests and activities that brought joy before societal expectations intervened.
   • Purpose Anchor Example: A love for baseball cards could inspire starting a related blog or community.

3. Art of Subtraction:

   • Exercise: Identify aspects of current roles (e.g., job) that bring joy and consider focusing solely on those activities.
   • Purpose Anchor Example: Enjoying inventory management in a job could lead to specialized roles or side projects centered around organization.

4. Spaghetti Method:

   • Exercise: Experiment with new activities, hobbies, or social interactions to discover unforeseen passions.
   • Purpose Anchor Example: Joining a new sports team or attending varied social events to uncover latent interests.

Brad (27:03):
Highlights the importance of taking action beyond identification, stressing that creating a life of purpose requires stepping out of comfort zones and actively engaging in meaningful activities.

The Role of Agency and Tools in Cultivating Purpose

Empowering Personal Change (27:08 - 34:41):

Jordan (27:08):
Emphasizes that Little p Purpose is about the process, not the outcome.

• Key Point: Enjoying the journey provides satisfaction regardless of whether specific goals are met.

Tools and Levers:
Jordan outlines various tools and levers individuals can utilize to foster purposeful living:

• Tools:

  • Money: Facilitates the ability to make choices aligned with purpose.
  • Relationships: Support networks that can inspire and assist in pursuing passions.
  • Skills, Passions, Energy, Youth: Personal attributes that can be leveraged to explore and develop purpose-driven activities.

• Levers:

  • Art of Subtraction: Removing activities that drain rather than inspire.
  • Joy of Addition: Incorporating activities that bring joy.
  • Substitution: Replacing unenjoyable tasks with more fulfilling ones.

Example:
A 22-year-old might use their energy and youth to engage in a side hustle they love, incrementally reducing time spent on less fulfilling work, thereby enhancing their overall life satisfaction.

Impact of Little P Purpose on Legacy and Relationships

Building a Lasting Legacy Through Purpose (34:41 - 39:43):

Jordan (34:41):
Discusses how Little p Purpose fosters meaningful relationships and leaves a lasting impact.

• Interpersonal Connections:

  • Engaging in passion-driven activities naturally attracts like-minded individuals, fostering deep and authentic relationships.

• Legacy:

  • Example: Coaching a volleyball team not only brings personal fulfillment but also positively influences the lives of the children coached, creating a ripple effect of positive impact.

Brad (39:43):
Shares a personal anecdote about coaching his daughter's volleyball team, illustrating how such purposeful activities lead to unexpected and meaningful connections.

Jordan (41:27):
Reflects on his transition from a burnout in medicine to engaging in FI-related activities, resulting in exponential personal and professional impact through community building and collaborative efforts.

Encouraging Action and Overcoming Resistance

Stepping Out of Comfort Zones (45:16 - 46:40):

Jordan (45:16):
Addresses skeptics who may feel overwhelmed by the idea of pursuing Little p Purpose.

• Message:
  • Change requires stepping out of comfort zones, which can be intimidating but is essential for achieving different and more fulfilling outcomes.

Brad (46:39):
Highlights the challenges of leaving safe, curated lives in pursuit of deeper fulfillment, acknowledging the inherent discomfort in growth and change.

Jordan (47:12):
Encourages embracing the anxiety that comes with new endeavors as a sign of engagement and potential for meaningful growth. He underscores that the true regret at life's end is not failure but the lack of courage to try.

Closing Thoughts and Call to Action

Final Reflections and Inspirations (48:32 - 49:17):

Jordan (48:32):
Concludes by reiterating that Little p Purpose is a conduit to richer interpersonal relationships and personal fulfillment.

• Key Takeaway:
  • Purpose is about the present and future, driven by intentional actions that align with what truly lights one up.

Brad (49:13):
Offers a heartfelt endorsement of Jordan's book and mission, emphasizing the critical importance of integrating purpose into the FI journey. He urges listeners to pursue what lights them up as a means to not only enhance their own lives but also positively influence others.

Key Quotes

• Jordan (02:16):
  "Big P Purpose is this idea of I'm going to cure cancer or I'm going to start an eight-figure business... it's all about proving that I'm worthy."

• Jordan (07:38):
  "You have to rewrite that story. You have a new sense of meaning such that you feel enough."

• Brad (16:56):
  "Purpose is not found, it's created. You can actively shape your life."

• Jordan (22:49):
  "Purpose feels so ephemeral and so far away. What if we could make it as straightforward as how do you calculate your FI number?"

• Jordan (35:05):
  "If you want a good death, you're going to have to have a good life."

• Jordan (37:01):
  "Little P doesn’t mean little impact. It only is little in the sense that it's not society's version of 'killing it.'"

Conclusion

Episode 528 of ChooseFI offers a profound exploration of personal purpose, distinguishing between grand, often precarious ambitions and smaller, sustainable passions that enrich daily life. Jordan Grumet's insights provide listeners with actionable strategies to uncover and cultivate their own Little p Purpose, illustrating how such endeavors not only enhance personal happiness but also contribute to broader community and legacy. By focusing on process over outcome and embracing the activities that genuinely light them up, individuals can create a more fulfilling and impactful life journey alongside their pursuit of financial independence.