The Life Advice Guide: Insights For Young Adults From Stars of Business and Beyond

The continuation of the interview series “The Life Advice Guide.”

Photo: Courtesy Tom Zgainer

Interview number fourteen with Tom Zgainer.

Justin Higgins: “Hi Tom, what life advice do you have for young adults?”

Tom Zgainer: “Hi Justin. My life advice for young adults is based on the importance of saving and understanding your money.

We’ve all heard the phrase “save for a rainy day.” Maybe that’s why we are not so great at saving — the phrase is attached to a day that might not be so fun! We should expect all kinds of days ahead, plenty of them sunny, and the financial resources we accumulate along the way will allow us to build security and enjoy what may be in store for us 20–30 years after we retire. Starting to save early, even in small and incremental amounts, makes all the difference over time due to the magic of compounding. Albert Einstein, among the most notable thinkers in history, agreed. He said, “Compound interest is the 8th wonder of the world. He who understands it, earns it…he who does not, pays it!” So have fun today, by all means, but find a way to pay yourself every pay period into a “security bucket” you just will not touch.

Image courtesy of Unsplash

And that security bucket needs your attention! Because if your money is invested, you have to know exactly what your investments are costing you. Stunningly more than 60% of 401(k) participants believe that they are paying no investment-related fees. Nothing can be further from the truth. There are fees, and you are paying them in your 401(k) or IRA. It is just a matter of to what degree. So take an interest in finding out your exact costs. Why? Over your investing life, a 1% difference in fees can shave off 10 years of savings for retirement. Don’t let that happen — it’s your money! If you participate in an employer-sponsored retirement plan, don’t be shy about asking your employer if they have selected the best plan possible. Help them by comparing the fees in your plan to alternatives. You never know, the interest you take in your own future might help lead to a far better outlook financially for those you love and work with.”

Tom is the CEO & Founder of America’s Best 401k. America’s Best 401k, of which world-renowned peak performance strategist Tony Robbins is a Partner, is one of the most disruptive solutions in the retirement planning space. America’s Best 401k remembers what most plan providers have seemingly forgotten: that the money in 401(k), 403(b) and defined benefit plans is the possession of real people — people with families — who deserve to experience the benefits of the money they have had the discipline to sock away. America’s Best 401k offers plan sponsors and participants freedom from expensive 401k plans and underperforming investment options. For more information, visit:

Originally published at

Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.
We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.