Anyone have a child model?

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BuckyBadger
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Anyone have a child model?

Post by BuckyBadger » Sat Apr 13, 2019 8:44 pm

I was recently contacted by a friend of the family whose child used to be a child model. He suggested that we consider having our 7 month old baby model and is going to give us some contacts.

Although flattering, I really wonder how practical this could be? We both work full time and make plenty enough money for the family. On the other hand - how cool to do something like that!

Has anyone done anything like this? Is it worth it trying to do it "a little," or is it an all or nothing proposition?

Trader Joe
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Re: Anyone have a child model?

Post by Trader Joe » Sat Apr 13, 2019 8:59 pm

BuckyBadger wrote:
Sat Apr 13, 2019 8:44 pm
I was recently contacted by a friend of the family whose child used to be a child model. He suggested that we consider having our 7 month old baby model and is going to give us some contacts.

Although flattering, I really wonder how practical this could be? We both work full time and make plenty enough money for the family. On the other hand - how cool to do something like that!

Has anyone done anything like this? Is it worth it trying to do it "a little," or is it an all or nothing proposition?
No, this does not "sound cool" at all. Protect your baby. That is your job.

livesoft
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Re: Anyone have a child model?

Post by livesoft » Sat Apr 13, 2019 9:04 pm

My daughter was a model, but I didn't have to do anything since she was over age 16 and took care of her job herself. It was quite interesting to see her in marketing materials.
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Isabelle77
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Re: Anyone have a child model?

Post by Isabelle77 » Sat Apr 13, 2019 9:07 pm

So my husband worked on kids' commercials for years. He wouldn't let our children near the business if that tells you anything :)

There's a misconception that modeling pays a lot of money, it pays nearly nothing.

Small Savanna
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Re: Anyone have a child model?

Post by Small Savanna » Sat Apr 13, 2019 9:08 pm

Do you mean modeling for catalogs, etc? Assuming you do the appropriate due dilligence and make sure it isn't a scam, then I think this could a good opportunity. If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...

ohai
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Re: Anyone have a child model?

Post by ohai » Sat Apr 13, 2019 9:15 pm

I doubt that they will pay you a lot of money. I mean, there are millions of identical babies around. However, if you have some spare time and the earnings are worth your time, I don't see what's wrong with taking the money and saving it for your kid's school or something.

SrGrumpy
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Re: Anyone have a child model?

Post by SrGrumpy » Sat Apr 13, 2019 10:13 pm

If you both work full-time, who's going to take the baby to endless auditions, callbacks, and photo shoots?

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Re: Anyone have a child model?

Post by Grt2bOutdoors » Sat Apr 13, 2019 11:20 pm

Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
Do you mean modeling for catalogs, etc? Assuming you do the appropriate due dilligence and make sure it isn't a scam, then I think this could a good opportunity. If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Trees don't grow to the sky, your example rarely plays out in real life.
Frankly, the OP could gift the child $3K today, put it in VFINX and let it compound in their names, upon inheritance, child would receive step up making basis tax free and could avoid the modeling business.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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sunny_socal
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Re: Anyone have a child model?

Post by sunny_socal » Sun Apr 14, 2019 7:22 am

We were approached about child modeling. Living in San Diego at the time, we would have been required to drive to LA for the shoots.

Decided not to pursue it, it's better for our kids to be kids.

JoeRetire
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Re: Anyone have a child model?

Post by JoeRetire » Sun Apr 14, 2019 7:32 am

BuckyBadger wrote:
Sat Apr 13, 2019 8:44 pm
Has anyone done anything like this? Is it worth it trying to do it "a little," or is it an all or nothing proposition?
My son modeled for cover art in a series of teen detective novels.

He enjoyed it and it is an interesting conversation piece. It was nothing more than a number of photo sessions. Nothing strenuous and nothing intrusive on his time.

I don't think we would have encouraged anything more serious than that.

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Sun Apr 14, 2019 7:38 am

Right or wrong here is my opinion on child activities. Unless it gets you into college or pays you as a professional it is a hobby. So if they child likes it do it and if they don't don't. Since its a baby it is really a reflection of if YOU like it or not. You are the ones who will be doing all the work. As long as you realize It isn't like the baby/ child/ teenage modeling is going to lead to anything in the future your fine.

Good luck.
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veindoc
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Re: Anyone have a child model?

Post by veindoc » Sun Apr 14, 2019 8:00 am

The pay is surprisingly low. You “may” get free clothes or some pictures for a portfolio. Some gigs pay $50-$100. My three year old was very cooperative and loved the camera but if the shoots extend into nap time forget about it. Your kid is only 7 months - too many variables required to manipulate for success.

Do it only if it’s easy. Don’t expect to make a significant amount of money.

miamivice
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Re: Anyone have a child model?

Post by miamivice » Sun Apr 14, 2019 9:00 am

Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
Do you mean modeling for catalogs, etc? Assuming you do the appropriate due dilligence and make sure it isn't a scam, then I think this could a good opportunity. If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
I don't understand why so many parents (dads almost always) are so focused on opening Roth IRAs for their kids.

First of all, you only save 15% in taxes under current law. So either than 3k turns into 342k or turns into 288k. Either is a lot of money.

Second, Roth IRA money (both contributions and growth) can be withdrawn for any reason at any time. So there is nothing that prevents the kids from withdrawing the money and using it to go to buy a BMW when they are 22.

miamivice
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Re: Anyone have a child model?

Post by miamivice » Sun Apr 14, 2019 9:03 am

BuckyBadger wrote:
Sat Apr 13, 2019 8:44 pm
I was recently contacted by a friend of the family whose child used to be a child model. He suggested that we consider having our 7 month old baby model and is going to give us some contacts.

Although flattering, I really wonder how practical this could be? We both work full time and make plenty enough money for the family. On the other hand - how cool to do something like that!

Has anyone done anything like this? Is it worth it trying to do it "a little," or is it an all or nothing proposition?
We have two kids, and have gone through the same thought process as you.

I always felt they were scammy. It seemed like a lot of photo calls for infants. Now that our kids aren't infants, nobody wants our kids as models anymore.

The thing is, the photo shoots, etc, are during work hours. So one of you has to take vacation time to take your kids there. And there is no guarantee that they are selected. It's a bit like a lottery.

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nisiprius
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Re: Anyone have a child model?

Post by nisiprius » Sun Apr 14, 2019 10:06 am

I wouldn't dream of it. I try not to be too judgmental, it's well within the range of things people can choose to do and I don't need to like it. But I'm a little judgmental. I think it is inappropriate for parents to try to make serious money out of their infants or children. And the presence of money increases the possibility of psychological abuse. It is probably worst if the child really is photogenic, as the parents then need to decide how to manage a burgeoning career.

If you go ahead with this, be sure that the "contacts" are people who, themselves, are directly hiring models themselves--not an organization that claims they help people locate people who hire models.

If you are willing to go to the effort of digging it out, I strongly recommend John Collier's short story, "Cancel All I Said," from his anthology Fancies and Goodnights. I can't find a copy of the story online. It is the nightmare scenario. Fiction, of course. Older child. Marriage torn apart after a movie studio promises to give her a screen contract. I wouldn't want to give any spoilers but the title itself is a sufficient spoiler.
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StevieG72
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Re: Anyone have a child model?

Post by StevieG72 » Sun Apr 14, 2019 10:17 am

Meh, not worth following up on.

It is easy to exploit parents, tell them their kid is the most photogenic child they have ever worked with, the parent will do whatever is asked.
Fools think their own way is right, but the wise listen to others.

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unclescrooge
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Re: Anyone have a child model?

Post by unclescrooge » Sun Apr 14, 2019 10:42 am

A college buddy of mine has a business he runs 2 hrs every morning with his wife and several employees. That leaves him all day to ferry his kid around town for auditions.

It was his 4 year olds idea to get into acting and modeling, so it began with a modeling class. The kid is also extremely talented.

He just turned 10 and he's the lead in just-released kids movie.
He also played a child actor in a foreign film 3 years ago.

So dreams do come true, if they are the kid's dreams to begin with, and the parents have tremendous flexibility in work, and they get lucky.

TravelforFun
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Re: Anyone have a child model?

Post by TravelforFun » Sun Apr 14, 2019 10:49 am

Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun

retire2022
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Re: Anyone have a child model?

Post by retire2022 » Sun Apr 14, 2019 11:41 am

TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun
All here is a thread on Roth for Child:

viewtopic.php?f=1&t=267082&hilit=roth+for+child

Spirit Rider
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Re: Anyone have a child model?

Post by Spirit Rider » Sun Apr 14, 2019 12:02 pm

I have seen many parents get sucked into baby or child modeling. For the ones who actually made any money (the vast minority) at all it was hundred$ not thousand$. The lack of actual use and outright rejections were heart breaking for the older ones.

Newsflash, your kids really aren't that cute and if they are, somebody is going to exploit you/them. Let kids be kids, they aren't there for you to make up for your childhood.

IowaFarmBoy
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Re: Anyone have a child model?

Post by IowaFarmBoy » Sun Apr 14, 2019 3:40 pm

TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun
Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just checked using the bankrate calculator and also did a manual estimate. Rule of 72 means it will double about every 10 years so it will double just under 7 times.

fru-gal
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Re: Anyone have a child model?

Post by fru-gal » Sun Apr 14, 2019 4:08 pm

Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
Do you mean modeling for catalogs, etc? Assuming you do the appropriate due dilligence and make sure it isn't a scam, then I think this could a good opportunity. If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Let me know where you're earning 7% for 70 years. and then factor in inflation.

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Sun Apr 14, 2019 4:14 pm

unclescrooge wrote:
Sun Apr 14, 2019 10:42 am
A college buddy of mine has a business he runs 2 hrs every morning with his wife and several employees. That leaves him all day to ferry his kid around town for auditions.

It was his 4 year olds idea to get into acting and modeling, so it began with a modeling class. The kid is also extremely talented.

He just turned 10 and he's the lead in just-released kids movie.
He also played a child actor in a foreign film 3 years ago.

So dreams do come true, if they are the kid's dreams to begin with, and the parents have tremendous flexibility in work, and they get lucky.
Guess I see it different. That kid is now one of THOUSANDS of kid actors who have 1-10 bylines on their resume. How many of them go anywhere from there? AND the bigger issue is the ones that do go further and is not predictable. Acting/ singing/ modeling is not a "best man wins the job". It isn't like the one who act the best gets the role. It is the one who acts good enough and fits the role that they are trying to capture based on the demographics that the studio has set out to make the profit margin they are looking for.

The data is about 5-10% of actors make more then 5k or something like that PER YEAR. I would be MORE worried that if my kid did this that it would reinforce their (and parents) dream of acting into adulthood.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Sun Apr 14, 2019 4:18 pm

TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun
You don't need to have a kid making money just to open an IRA to execute the concept. I did for my baby (now 6) with a vanguard VA. It gives tax free growth until they take it out in retirement (60+ year from now). Mr. Clement used to write about this in his earlier days. Now 60+ years of growth is nothing to sneeze at. Best part is she has/ will have no idea it even exists so no chance of selling it earlier to go buy a Porsche!

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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celia
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Re: Anyone have a child model?

Post by celia » Sun Apr 14, 2019 4:20 pm

IowaFarmBoy wrote:
Sun Apr 14, 2019 3:40 pm
TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.
Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just checked using the bankrate calculator and also did a manual estimate. Rule of 72 means it will double about every 10 years so it will double just under 7 times.
I put 3,000 into cell A1 of a spreadsheet, and the formula:
=A1*1.07 (simple compounding once a year)
into cell B1 and the rest of column 1. I get $319,596 at age 70 (compounded 69 times). So $342K sounds about right if you compound it monthly or so.


As to the original question, my sister took her first child to photo shoots for ads but it was a lot of driving and waiting around to get a few thousand in a year. When the baby was about a year old, she started resisting trying on so many clothes for other people so they stopped going.

However in my in-law's family, there were identical twins who were recruited for a baby scene in a movie. Legally, the time that any baby can be filmed in a day was probably about one minute so one child can't get much screen time. There was also another set of twins playing the same part. So some days there were 4 babies on the set. This was decades ago and the studio sent out a limo to pick up the babies and mother, so it wasn't too bad logistically. But the whole thing probably only lasted a week or two. The babies had to get SSNs and join SAG to be paid.

michaeljc70
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Re: Anyone have a child model?

Post by michaeljc70 » Sun Apr 14, 2019 4:21 pm

A 7 month old has no such desires. Why do you want to do this? What gratification will it give you? I'm sure your child (along with millions of others) is beautiful whether modeling or not.

If this continues for some time and then ends (not due to your choosing), I'd be concerned about the impact of that on a child. I had a sibling who was lauded as gifted (intellectually) at a young age. When the educators no longer thought that and removed him from the programs, it wasn't good.

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unclescrooge
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Re: Anyone have a child model?

Post by unclescrooge » Sun Apr 14, 2019 6:22 pm

staythecourse wrote:
Sun Apr 14, 2019 4:14 pm
unclescrooge wrote:
Sun Apr 14, 2019 10:42 am
A college buddy of mine has a business he runs 2 hrs every morning with his wife and several employees. That leaves him all day to ferry his kid around town for auditions.

It was his 4 year olds idea to get into acting and modeling, so it began with a modeling class. The kid is also extremely talented.

He just turned 10 and he's the lead in just-released kids movie.
He also played a child actor in a foreign film 3 years ago.

So dreams do come true, if they are the kid's dreams to begin with, and the parents have tremendous flexibility in work, and they get lucky.
Guess I see it different. That kid is now one of THOUSANDS of kid actors who have 1-10 bylines on their resume. How many of them go anywhere from there? AND the bigger issue is the ones that do go further and is not predictable. Acting/ singing/ modeling is not a "best man wins the job". It isn't like the one who act the best gets the role. It is the one who acts good enough and fits the role that they are trying to capture based on the demographics that the studio has set out to make the profit margin they are looking for.

The data is about 5-10% of actors make more then 5k or something like that PER YEAR. I would be MORE worried that if my kid did this that it would reinforce their (and parents) dream of acting into adulthood.

Good luck.
I completely agree with you. I was assuming this was more of a hobby than a life choice.

Living in LA had made me aware of just how many thousands of young people move here looking to become the next stars, and end up as career waiters.

But if I had to bet on 1 kid out of a thousand, it would be this kid. And even if acting doesn't pan out for him, he'll do just fine in life too.

But exceptions do not make the rule.

robphoto
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Re: Anyone have a child model?

Post by robphoto » Sun Apr 14, 2019 6:35 pm

You asked if you had to go "all in," or if you could do it just a little; you can certainly do it just a little, or just once. Often they are looking for babies at a certain stage: responds, but doesn't roll over yet; can sit up, but won't crawl away, etc. If there are any child product companies near you, contact them. Beware of agencies that charge a lot just to get you on their list of models.

In my opinion, if it's through a reputable agency or people you know, it might be interesting to do, but remember:
-- you may be going on a "go-see", where they will ask the agency to send a lot of children for them to see, take a quick photo, and consider for a potential shoot
-- if you are booked for a shoot, there is usually a flat hourly rate and a minimum, but you will have to pay for travel, parking, bring food etc for the child
-- you may spend a lot of time waiting around, they may not get to you or by the time your child is called they may be tired and not want to do it
-- the child may be fine on the day, but burst into tears when they come into the set with lights and a "mom" model, etc.
-- if you're ok with all of this, and aren't chagrined when your child isn't chosen, doesn't do it, or whatever, it can be an interesting and fun experience
-- it's not really a way to make a lot of money, by the time you count all the hours and expenses involved

My experience is that of all the people involved, the parents were the most under stress, because they really want their child to do well, and you can't really control that in a young child. Sometimes the child is into it, sometimes not; usually the people working the shoots are pleasant and enjoy working with children. But you've got to be ok with it when the child won't smile, isn't happy or whatever, and they ask for the next child.
Last edited by robphoto on Sun Apr 14, 2019 8:48 pm, edited 1 time in total.

TravelforFun
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Re: Anyone have a child model?

Post by TravelforFun » Sun Apr 14, 2019 8:16 pm

IowaFarmBoy wrote:
Sun Apr 14, 2019 3:40 pm
TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun
Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just checked using the bankrate calculator and also did a manual estimate. Rule of 72 means it will double about every 10 years so it will double just under 7 times.
You're right if it's a one-time fee. I was calculating $3K each year.

TravelforFun

Leemiller
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Re: Anyone have a child model?

Post by Leemiller » Sun Apr 14, 2019 8:30 pm

I’m surprised none has raised this, but as a mother of girls - no! I used to have strangers stop me and my parents and suggest modeling - I was glad nothing came of it. Later a friend in college who modeled developed an eating disorder when she needed to drop weight. Not an uncommon story. It is beyond disconcerting to be objectified at that level as a young women, pre-teen even, and often scary.

Have your kids start a business instead.

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Re: Anyone have a child model?

Post by Spirit Rider » Sun Apr 14, 2019 9:57 pm

staythecourse wrote:
Sun Apr 14, 2019 4:18 pm
You don't need to have a kid making money just to open an IRA to execute the concept. I did for my baby (now 6) with a vanguard VA. It gives tax free growth until they take it out in retirement (60+ year from now). Mr. Clement used to write about this in his earlier days. Now 60+ years of growth is nothing to sneeze at. Best part is she has/ will have no idea it even exists so no chance of selling it earlier to go buy a Porsche!
It is not tax free growth, it is tax-deferred growth. All of the earnings will be subject to ordinary income taxes on distribution. Also, even at Vanguard a VA is subject to fees.

You would be far better off to invest in a UTMA account with a tax efficient fund such as a Total Stock Market index fund. Then with the new TCJA Kiddie Tax trust taxation above the UTMA account owner's tax brackets. You can tax gain harvest up to the first trust 0% bracket. For 2019 this is $4750. This would potentially allow a low six-figure UTMA with little to no taxes paid or due by early to mid 20s.

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Sun Apr 14, 2019 11:26 pm

Spirit Rider wrote:
Sun Apr 14, 2019 9:57 pm
staythecourse wrote:
Sun Apr 14, 2019 4:18 pm
You don't need to have a kid making money just to open an IRA to execute the concept. I did for my baby (now 6) with a vanguard VA. It gives tax free growth until they take it out in retirement (60+ year from now). Mr. Clement used to write about this in his earlier days. Now 60+ years of growth is nothing to sneeze at. Best part is she has/ will have no idea it even exists so no chance of selling it earlier to go buy a Porsche!
It is not tax free growth, it is tax-deferred growth. All of the earnings will be subject to ordinary income taxes on distribution. Also, even at Vanguard a VA is subject to fees.

You would be far better off to invest in a UTMA account with a tax efficient fund such as a Total Stock Market index fund. Then with the new TCJA Kiddie Tax trust taxation above the UTMA account owner's tax brackets. You can tax gain harvest up to the first trust 0% bracket. For 2019 this is $4750. This would potentially allow a low six-figure UTMA with little to no taxes paid or due by early to mid 20s.
Yes you are correct it is tax deferred and not tax free. HOWEVER, it is crazy you wouldn't want to take advantage of 60+ years of tax deferred growth. It is a great idea and my daughter will be happy I thought about. Vanguard VA have pretty low costs considering the are VA.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

Spirit Rider
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Re: Anyone have a child model?

Post by Spirit Rider » Sun Apr 14, 2019 11:40 pm

staythecourse wrote:
Sun Apr 14, 2019 11:26 pm
Yes you are correct it is tax deferred and not tax free. HOWEVER, it is crazy you wouldn't want to take advantage of 60+ years of tax deferred growth. It is a great idea and my daughter will be happy I thought about. Vanguard VA have pretty low costs considering the are VA.
Sorry, but it makes less sense to pay fees no matter how low and subjecting capital gains to ordinary income tax rates vs. tax free growth for 20 - 25 years followed by future growth taxed at capital gains tax rates. Do the math.

Topic Author
BuckyBadger
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Re: Anyone have a child model?

Post by BuckyBadger » Mon Apr 15, 2019 7:11 am

Thank you all for the thoughtful replies - and my apologies for the delay on responding back to this thread.

My thought was that if it was easy to do in a reasonable amount of time to just do this a time or two just to have a clipping in her baby book. More of a fun story to tell her later rather than a baby career! She doesn't have to earn her own salary...yet! I'll get her to pay us back for her bottles by making her mow the lawn for years - like my dad did do me!! :D :D :D

She's just a cute baby who loves to smile and isn't camera shy. So the thought was to just get some fun photos, not get her into a lifetime of the business. As many of you have mentioned, her father and I both work full time, so any weekday activities would involve us taking vacation time.

If the representative of the company that our contact suggested should happen to follow through and get in touch with us we will listen to what he or she has to say and assess the amount of time that would have to be dedicated to this endeavor. Once we have that sort of information we can go from there. But it's definitely sounding like it probably won't end up being that easy so we'll probably end up passing on the whole thing.

Thanks so much for all the comments!

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Mon Apr 15, 2019 11:33 am

Spirit Rider wrote:
Sun Apr 14, 2019 11:40 pm
staythecourse wrote:
Sun Apr 14, 2019 11:26 pm
Yes you are correct it is tax deferred and not tax free. HOWEVER, it is crazy you wouldn't want to take advantage of 60+ years of tax deferred growth. It is a great idea and my daughter will be happy I thought about. Vanguard VA have pretty low costs considering the are VA.
Sorry, but it makes less sense to pay fees no matter how low and subjecting capital gains to ordinary income tax rates vs. tax free growth for 20 - 25 years followed by future growth taxed at capital gains tax rates. Do the math.
It is for me. I invested it all in Vanguard REIT and wouldn't want those taxed each year in a taxable from age 20-60+.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

DrGoogle2017
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Re: Anyone have a child model?

Post by DrGoogle2017 » Mon Apr 15, 2019 12:55 pm

Leemiller wrote:
Sun Apr 14, 2019 8:30 pm
I’m surprised none has raised this, but as a mother of girls - no! I used to have strangers stop me and my parents and suggest modeling - I was glad nothing came of it. Later a friend in college who modeled developed an eating disorder when she needed to drop weight. Not an uncommon story. It is beyond disconcerting to be objectified at that level as a young women, pre-teen even, and often scary.

Have your kids start a business instead.
Yeap, my kids were approached many time. In fact, one was always picked to play a beauty role in any play at school. She was a beautiful baby too.
Never emphasize looks. This is a baby, let them be baby.

macman_65
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Re: Anyone have a child model?

Post by macman_65 » Mon Apr 15, 2019 1:43 pm

celia wrote:
Sun Apr 14, 2019 4:20 pm
IowaFarmBoy wrote:
Sun Apr 14, 2019 3:40 pm
TravelforFun wrote:
Sun Apr 14, 2019 10:49 am
Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.
Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just checked using the bankrate calculator and also did a manual estimate. Rule of 72 means it will double about every 10 years so it will double just under 7 times.
I put 3,000 into cell A1 of a spreadsheet, and the formula:
=A1*1.07 (simple compounding once a year)
into cell B1 and the rest of column 1. I get $319,596 at age 70 (compounded 69 times). So $342K sounds about right if you compound it monthly or so.
It's not a complicated formula: 3000(1.07)^70 = 341,968.18

staythecourse
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Re: Anyone have a child model?

Post by staythecourse » Tue Apr 16, 2019 9:49 am

DrGoogle2017 wrote:
Mon Apr 15, 2019 12:55 pm
Never emphasize looks.
Great advice at any age especially for women. It is already a visual world last thing you want to do is emphasize its worth from INSIDE the home.

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

Pigeon
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Re: Anyone have a child model?

Post by Pigeon » Wed Apr 17, 2019 11:30 am

My sister has a son who was very interested in acting/modeling. He's a very good looking kid, extremely photogenic and athletic. He had some decent success through about age 14 or so, particularly in getting ads for sporting equipment and events for some big name companies. He lives in an area that's a winter sports spot where a lot of photo shoots take place. He also got some acting roles. She worked part time freelance, and spent untold hours carting him around to auditions, etc. I don't know how you'd do it if you worked full time.

When he got to be about 14 it all dried up, and that was the case for the other child actors in his cohort. They can hire young looking 18 year olds with lots less restriction about how they can work.

At one point, she took him to LA for a period at his agent's urging and it didn't take long for her to realize that wasn't a lifestyle she wanted for her family.

She tried to get me interested in having my daughter do modeling. I absolutely had no interest as I didn't like the focus on appearance and body image. I also work full time and there's no way I could manage all the traveling around.

knightrider
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Re: Anyone have a child model?

Post by knightrider » Wed Apr 17, 2019 11:44 am

Probably a scam like those folks who say we want to feature you or your business in some magazine.. Anything that capitalizes on people's desire for fame is 99% of the time a scam..

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dm200
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Re: Anyone have a child model?

Post by dm200 » Wed Apr 17, 2019 11:58 am

Our neighbor's daughter started doing TV Commercials beginning at about age 4 - and continued doing these until she (at the age of 16) moved to California looking for an acting career.

Fortunately for her, she got several episode spots in several TV shows - and then a regular in a TV series for the last 2 or 3 years - and continuing forward.

I wish her well - and from seeing her once or twice a year when she visits her parents - she seems just as nice as ever.

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bertilak
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Re: Anyone have a child model?

Post by bertilak » Wed Apr 17, 2019 12:48 pm

Almost forgot! I was a child model!

Well, for a one-time deal. A fishing magazine (Field and Stream?) wanted a full-page illustration for a short story (boy's first fish?).

I wore some of my regular young-boy clothes, stood in a stream with a rod and line tied to a rock. I had to act excited and focus on the task as I tried to reel in that fish! (biting my lip) The artist took pictures to use as inspiration for his painting. I still have the magazine somewhere. It does look like me. He was a good artist. I think I was 12-13 years old. Maybe I'll dig up that magazine and find out. The artist was a neighbor and recognized my Tom Sawyer good looks!

I have no idea if my parents were paid anything.

Edit: We moved out of that neighborhood in the summer of the year I turned 13. Birthday in November.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker, the Cowboy Poet

jeffG
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Re: Anyone have a child model?

Post by jeffG » Wed Apr 17, 2019 8:28 pm

Like mentioned above, most modeling doesn’t pay much. I forget how we got involved, but both my daughters were models for Walmart’s weekly newspaper insert. They only made like $50/ hour for 2 hours a week. The girls enjoyed doing it, but the clothes only came In certain sizes and once they grew out of those sizes they quit getting calls. We do have a scrap book with all the advertisements they were in.

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