This paper presents a study of “Fureai Hiroba” in K City, H Prefecture, examining how a “meaning of life” is generated for the elderly, and showing how raising grandchildren can enhance “the feeling of life” for the elderly. The purpose was also to generate suggestions for such activities. By analyzing an interview with the operator of “Fureai Hiroba,” the following content was clarified. First, as stated by Kondo et al. (2003), the elderly have ambitious feelings, supported by the awareness of being useful to their families and other people, and a sense of self-affirmation based on their own achievements and improvements. Second, it was found that the growth and development of children was seen as a characteristic of “Fureai Hiroba.” Third, raising grandchildren gives the elderly “a sense of purpose” as it involves the interaction of children with their grandparents in various ways. It was suggested that the activity should include an opportunity to teach social rules, and a place where children can feel at ease. Fourth, for the elderly to experience “a sense of purpose,” it is necessary to ensure that interaction with their grandchildren is not a one-off event, but an ongoing involvement.