“I’d love a 401k, but I can’t run that far.”
It’s an old industry joke, but apropos, as this year’s 4.01k Race for Financial Fitness kicks off in multiple cities with thousands of runners at a 4.01 pm start of April 1 (for what should be obvious reasons).
It promises marquee sponsors, a celebrity endorser and a whole lot of fun.
For years Jason Chepenik, managing partner of Chepenik Financial, has known of the correlation between financial health and physical health, something that’s highlighted more and more in industry financial wellness programs. Money and finances are one of the top causes of employee stress, which ultimately affects ones wellness, not to mention adding to absenteeism, increased insurance costs and more.
Simply put, it has a negative effect on employee health, productivity, and therefore the employer’s costs. In response, Chepenik created the run.
“It’s a chance for us, as well as the other 401k advisors whom we’ve partnered with in other cities, to really give back to the communities in which we live and operate, with no expectation of anything in return,” said Chepenik, whose managing the race in Orlando, Florida with proceeds benefiting junior achievement.
Other cities in which it will take place in this, its third year, include San Diego, Minneapolis, Nashville, Kansas City, Detroit and Charlotte.
Jean Chatzky, award winning journalist and speaker, as well as financial editor for NBC’s Today Show, will serve as the official “2017 Financial Head Coach: 4.01k Race for Financial Fitness,” and will kick start the race with Chepenik in Orlando at the appointed hour this Saturday.
“Health and wealth are inextricably linked, and staying healthy can put a whole lot more money into one’s savings,” Chatzky, whose latest book is AgeProof: Living Longer Without Running Out of Money or Breaking a Hip noted. “I’m a lifetime runner and I’ve been saving just as long. I wake up in the morning with an attitude of I’m just going to get it done. I don’t change out of my workout clothes until I actually go for a run, so that might mean I’m still in them at 3:00 in the afternoon, but I eventually do it. The same tricks of the trade can be applied to financial and retirement saving for the benefit of the individual.”
She added that money causes more stress “than anything else. It’s about living on less than one makes and saving something from every single paycheck. It’s a behavioral issue, where we can get people to save a little bit more, maybe 1 or two percent, and not feel it.”
More on the race can be found here.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
