: Here’s what Pink’s 11-year-old daughter should do with her ‘minimum wage’ job

by | Feb 23, 2023 | Stock Market

Pink’s 11-year-old daughter is working a “minimum wage” job on her mom’s upcoming tour, and while she’s learning about taxes and salary negotiations she may want to consider opening a retirement account.  During an interview on “Today,” the pop star said she was bringing her 11-year-old daughter, Willow, and her 6-year-old son, Jameson, on tour with her. Pink said she also taught her daughter how to negotiate a salary — when she said she’d pay her daughter $22.50 a show, Willow said she’d take $20 because it’s easier math. “I’m like, ‘that’s not how you negotiate for yourself,’” she told the show hosts. “I’m like, ‘you’ll take $25 so it’s easier math.’” 

Another thing Willow could benefit from: opening a retirement account with her earnings.  IRAs can only be funded when the account holder has earned income, which means working children could have an account. The caveat — that money must be recorded, such as with a W-2 or 1099, to prove that income (so an allowance for chores around the house won’t do).  “Anytime we can legitimately confirm or arrange for the work income, it’s a great idea,” said Daniel Galli, a certified financial planner at Daniel J. Ga …

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