11K
131K
49.7%
I'm gonna ruffle a few feathers here, but those feathers need to be ruffled anyways. And if you feel attacked by this, I don't know what to say. To all the influencers & content creators who use their kids to make money but don't pay them, & don't have a Roth IRA or UTMA or 529 for college or IBonds set up for them - the Lord is watching you. 👀 Ps, I'm not talking about taking photos and videos with your kids & posting, or any fun family content that you create that features your child. I'm talking about paid campaigns and/or partnerships that REQUIRE your children to be part of them or in them, as well as content that makes money as a result of your children being in that content. As you know Aiden has done some modeling & acting, & by law a portion of that money goes into a Coogan account that no one had access to but him when he turns 18. Coogan accounts are required by law for child entertainers (models / actors), however there's nothing in place to protect child social media stars or influencers or children who work by modeling & acting as part of social media campaigns. If your child features in paid partnership or campaign in a photo or video, be it a speaking or non speaking role, then yes they are a model/actor & should be compensated. Parents or legal guardians can receive money on their kids behalf, & can spend it all without any consequences. There are no laws in place for this. Accounts you can open for your child to deposit their pay in - Roth IRA (retirement accnt) - UTMA (minor brokerage accnt) - 529 (college savings) - Purchase IBonds (investment) If you're not a content creator or influencer & want to put money away for your child, you can open the above accounts too. The only exception is with a Roth IRA as you have to prove that the child has earned income. I pay Aiden $12K+ /yr. His accounts are with Fidelity & I have stocks & index funds purchased for him. As for Ibonds, that is with the treasury. You can simply Google or check link in my bio for my list of long term stocks which he has. Any questions, please ask! When you know better you do better 😉 Ps, I also pay my nieces & nephews if they feature in my paid content. 🙌🏾
11K
131K
49.7%
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