Prime Capital Retirement’s second annual 401(k) Day event challenged participants to prove that small actions can lead to massive results—both for their fitness and their finances. The “1% Challenge” invited employees to make two impactful commitments: increase their retirement savings by 1% and run or walk 2.5 miles, representing 1% of 401 kilometers. The result? A day filled with excitement, healthy competition, and a staggering $1.5 million in potential retirement savings. What began as a fun team-building activity is becoming a game-changer for financial wellness.
The challenge saw 79 participants logging 124 runs, collectively covering over 310 miles. Chuck Smith, Nebraska practice leader at Prime Capital Retirement and the founder of the event, went the extra mile—literally—by running a remarkable 60 miles throughout the course of the day. For Chuck, who is both an avid runner and a passionate advocate for retirement savings, this event was an opportunity to unite two of his great interests. “It was super fun during the day to combine the run and the administration of it,” Chuck said. “I was in my happy place, from doing it, keeping track of it, running the Excel spreadsheets, and also running in between. Go, go, go, go!”
The event not only promoted physical wellness but also highlighted the financial impact of small changes. “The money saved for 79 runners would equate to $1.5 million over 20 years by simply increasing their retirement contributions by 1%,” Chuck explained, emphasizing the long-term benefits of what may seem like a minor adjustment. For instance, a 55-year-old earning $70,000 annually could potentially increase their retirement savings by $16,779 with just an extra $16 per week added to their plan. This simple, actionable step aligns perfectly with the event’s goal of demonstrating how even a small increase in retirement contributions can lead to significant financial gains over time.
Throughout the day, participants were encouraged to log their activity and submit it through a dedicated website. To make the experience more interactive, the team hosted an hourly raffle, giving away $100 gift cards to those who completed the challenge. While the event started slowly in the early morning hours, things quickly picked up as the day progressed. “I was kind of anxious at midnight, waiting to see if anyone would log in and run that early in the morning,” Chuck said. “By 4 a.m., we had our first entries, which was exciting. It felt like a steady stream after that, averaging five to six people an hour doing the 2.5 miles.”
Chuck’s dedication to both running and managing the event was clear. He balanced his runs with overseeing the website and ensuring participants’ names were promptly displayed on the leaderboard. “I didn’t want it to be, ‘Well, someone ran three times, but they’re only going to show up once,’ so I started listing who ran by the hour to recognize everyone’s efforts,” Chuck shared. Despite the logistical challenges, he described the experience as incredibly fulfilling.
Kyle Bingham, managing director at Prime Capital Wellness, also played a key role in the event, drawing a strong connection between physical and financial health. “The concept is that a little bit goes a long way. Just like you’re not going to be a marathon runner on day one, saving for retirement follows the same principle,” Kyle said. “Small, incremental increases equate to significant results once you reach retirement. It’s about creating a plan, executing it, and making small adjustments along the way. Eventually, those changes add up.”
Kyle sees the overlap between the two disciplines—physical fitness and financial wellness—as a natural fit. “I think everything really hinges on starting with a plan, having specific goals, and creating small adjustments along the way. Whether it’s running or saving for retirement, you have to have a direction that you’re going,” he explained. These insights reflect the broader mission of Prime Capital Financial, which focuses on helping individuals take manageable steps toward long-term financial security.
The impact of this year’s event goes beyond just the numbers. While the runners contributed 370 miles, and many increased their contributions by 1%, the event’s real success lies in the awareness it raised about financial wellness. The enthusiasm from participants, combined with the fact that several went above and beyond by increasing their deferral percentages even more than the suggested 1%, highlights how effective this initiative can be in changing habits and mindsets. One participant even doubled their contribution, increasing it by 2%, which Chuck found particularly encouraging. “That impacted me more than anything because they went beyond the challenge to improve their financial future,” Chuck said.
Looking ahead, Chuck and Kyle are already planning next year’s 401(k) Day. They hope to expand the event across all of Prime Capital Retirement, with the goal of increasing both participation and awareness. Chuck envisions getting 1,000 people involved in the 1% Challenge next year, a feat that would represent over 2,500 miles run and a potential $20 million increase in retirement savings over time. “We want to encourage people to make those small adjustments, and we’re willing to put our money where our mouth is,” Chuck said. Kyle echoed this sentiment, suggesting they might expand the initiative by incorporating a webinar series or recording small vignettes to further explore the connection between physical and financial wellness.
Ultimately, the success of Prime Capital’s 401(k) Day event underscores the power of small, incremental actions. Whether it’s running 2.5 miles or increasing a retirement contribution by 1%, these manageable steps add up to significant progress over time. As Chuck summed it up, “You’re not going to run a marathon on the first day, but with a plan, small adjustments, and dedication, you will eventually reach your goal.”
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