The present study is based on the idea that the transition to motherhood creates profound changes and transformations in women's psyche. It examines the transformation of narcissistic investments from pregnancy to the postpartum period through the stories participants conveyed to TAT 3BM, 12BG and 13M cards. The participants were twelve first-time mothers aged 23-38. In order to observe the transition from pregnancy to the postpartum period, the stories conveyed by the participants to their TAT cards during the first trimester of pregnancy and the stories they subsequently articulated in the first three months following birth were subjected to comparative analysis. The findings indicated that the idealised narratives of feminine power, and coping alone during pregnancy were superseded by passive acceptance and a shift in orientation towards the other (with a necessity for support) in the postpartum period. This transition was characterised by a shift from a state of loneliness to one of relationality, and from narcissistic investment to object investment. This study has revealed the inherent dichotomies in the process of motherhood which include narcissistic completeness and incompleteness, activism and passivity, and care giving and care receiving. The balancing of these dichotomies is one of the challenging tasks of the perinatal period.