Fairport Women

What Running a Marathon (or a 5k) Can Teach You

By Fairport Wealth

“One step at a time. One round at a time. Know your why. It’s really just one step at a time. Whether that’s a race or in real life. You just have to know your why.”

– Alyson Felix

Thousands of runners will take to the streets of Cleveland this weekend, pounding past city landmarks in full and half marathons, 10ks and 5ks, challenging body, mind, and spirit to the finish line. It takes discipline, stamina, strategy, and perseverance to go the distance, much the same as it does to prepare for retirement. As with wealth planning, when running a race you need to:

• Put one foot in front of the other. Before you begin training, the thought of running 26.2 miles – or even 5k – all at once, can seem overwhelming. However, those who succeed train for months, building their endurance one step at a time. Most of those who succeed at saving what they’ll need for retirement do the same, one 401(k) or IRA contribution at a time.
  
• Get motivated. Whether you run to build confidence, improve your overall health, prove that you can, honor a loved one, or support an important cause, having a goal is inspiring. Envisioning your retirement goals can be inspiring, too.
  
• Pace yourself. Running is good for your physical and mental wellbeing, helping you lower your blood pressure and cholesterol and release endorphins, the “feel good” hormone that reduces stress, anxiety, and depression. But you need to go at a speed that is appropriate for you. The same holds true for saving and investing. Wealth planning should be tailored to your timeframe, goals, and feelings about risk.
  
• Get advice and support. Runners learn a lot from one another, like how to train, what to eat, and how to get past mental roadblocks. A wealth advisor can help you prepare for the future and overcome the roadblocks you may face, from the loss of a spouse to the sale of a business or a divorce. It can take a village and a supportive community to help you succeed.
  
• Strive for your personal best. Although in a marathon, runners compete with one another, comparing their times, future-planning is focused on you. Preparing for retirement should be highly personalized to you and your hopes and dreams.

Did you know? The average time it takes to run a marathon is around 4 to 5 hours, but Tigst Assefa Tessema from Ethiopia completed the 2023 Berlin Marathon in 2:11:53, becoming the marathon female world record holder.

Fairport Women strives to be a champion of wealth management, sharing stories, tips, and insights that resonate with women (and men) and aiming to make a significant impact in their professional and personal lives to help them achieve their “why”. 

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