Tai Lopez net worth
Tai Lopez scam
Those are the top 3 Google searches for Tai Lopez. You know the guy, in his garage, with his Lamborghini. You've seen his sponsored videos flood your times, your feeds, and pop up right before your favorite youtube video.
So who is Tai Lopez, is he real or a scam?
With no official Wikipedia page, this was going to take some digging.
A classic rags to riches story, spiced with flash and pizzaz. Tai dropped out of college, but maintained an obsession with learning and knowledge. Former GE Capital employee and Hollywood nightclub business owner, Tai cut his teeth in the financial world and built a cash pile mentoring, motivating and marketing businesses. Over 20 multi-million dollar companies have used his services.
He has also offered a plethora of courses, his most recent being the 67 steps program that is designed to help you rebuild your habits over the course of 67 days. He has another where he teaches you how to generate income by operating social media for large companies.
What really gained him notoriety is his feverish social media pace. 150 snaps a day, over 200 million Youtube views, ads running daily on Facebook and Instagram and even dispersed across the web. You can't turn on your internet and not see this guy, especially if your a male aged 18-35 interested in cars, women, and money.
What you also find is high quality, highly engaging content on all his social channels. He gives away cars and stacks of cash on his Instagram page, constant bits of wisdom and advice on Facebook, and interviews celebrities and titans on Youtube. He won me over with the video of him and music mega star Rihanna discussing books.
It's a combination of flash and pizzaz, wisdom and motivation, fueled by a relentless work ethic that has set this jet setting millennial millionaire ahead of the pack. Forbes has articles praising him as one of the best influencers on Instagram and SnapChat. He's mastered crafting story via social media and making bank in the process.
After dealing with a period of being broke and frustrated, Tai describes deciding to start at the end, figuring out exactly who he wanted to be, and the lifestyle he desired. He then built his life around that. And let us not forget the books. An avid reader, Tai's greatest boast is not of his Beverly Hills mansion, or his collection of exotic cars, but rather his library. Tai promotes reading daily and has an impressive and ever expanding book collection. It's this lifestyle and its dichotomy that make for such engaging content. Call it edu-tainment, but Tai's unique approach will have you renewing your Barnes & Noble membership, and taking out a lease on a sports car.
Interestingly enough, for a face that's become so well known, Tai also maintains an air of mystery and many details of his personal life remain private. It's another sign of his mastery of the Digital Age. One thing is for certain, with a wide breadth of credible features, a social media house firing on all cylinders, and happy customers that are actually making money using the material from his coursework, it's safe to say, Tai Lopez is no scammer.
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When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.