my 12 year old son has made $1k in the last two weeks with an iphone app...

[MTG#10]

So there's an app for iphone and android called "Musical.ly" where kids lip-sync to songs and if they're good they get fans to subscribe. My boy has always had little girls after him but since he started doing this a couple weeks ago he's already become somewhat famous in Musical.ly land. He even has groupies, and a couple little girls have their profile pics as them kissing a picture of him they apparently printed out.

Basically the way it works is you can add money to your account and send it as "gifts" to people you like. He has been getting so many "gifts" that he's now cashed in for a total of $1000 and he says he almost has enough to cash out another hundred. I didn't believe him until he started Paypal-ing the money to me for me to withdrawal for him. I told him that he can spend some but he's going to save the rest. He obviously didnt like that idea and now he's giving me the silent treatment.

Has anyone here had a young child that started making a decent amount of money, and if so how did you handle it?

[Chiefspants]

I don't know of how handle the parental side of this (a mandatory 50% to savings/college fund/investments would be my advice).

However, this app is HUGE with a few of my 6th grade technology students - it's great to know I've been encouraging them toward something with legitimate capital potential.

[kepp]

So there's an app for iphone and android called "Musical.ly" where kids lip-sync to songs and if they're good they get fans to subscribe. My boy has always had little girls after him but since he started doing this a couple weeks ago he's already become somewhat famous in Musical.ly land. He even has groupies, and a couple little girls have their profile pics as them kissing a picture of him they apparently printed out.

Basically the way it works is you can add money to your account and send it as "gifts" to people you like. He has been getting so many "gifts" that he's now cashed in for a total of $1000 and he says he almost has enough to cash out another hundred. I didn't believe him until he started Paypal-ing the money to me for me to withdrawal for him. I told him that he can spend some but he's going to save the rest. He obviously didnt like that idea and now he's giving me the silent treatment.

Has anyone here had a young child that started making a decent amount of money, and if so how did you handle it?

I don't know of how handle the parental side of this (a mandatory 50% to savings/college fund/investments would be my advice).

However, this app is HUGE with my 6th grade technology students - it's great to know I've been encouraging them toward something with legitimate capital potential.

These are the two components you need to build a successful pyramid marketing scheme. CP could have new servers in a couple months.

[Nickhead]

now he has enough money to pay for his phone service :D

[stumppy]

Damn ! Looks like the grandkids are going to have to get their asses to work.

[loochy]

now he has enough money to pay for his phone service :D

this is the kind of economics lesson you need to teach!

ok son, you earn money

you pay a 2% fee for every paypal withdrawl you have me perform

each month $60 of that pays for your business expenses (your phone)

$250 of that goes to uncle sam (donald)

save the remaining half for a rainy day/retirement/college

the remainder is his disposable income

[stumppy]

this is the kind of economics lesson you need to teach!

ok son, you earn money

you pay a 2% fee for every paypal withdrawl you have me perform

each month $60 of that pays for your business expenses (your phone)

$250 of that goes to uncle sam (donald)

save the remaining half for a rainy day/retirement/college

the remainder is his disposable income

You forgot the 25% managers fee

[Iowanian]

My kids have that, I hate it. Most annoying thing they watch with their limited time on screens. Small clips of annoying songs being lip synced by annoying kids.

I make my kids keep theirs private because I don't want pedos sending them money.

[loochy]

My kids have that, I hate it. Most annoying thing they watch with their limited time on screens. Small clips of annoying songs being lip synced by annoying kids.

I make my kids keep theirs private because I don't want pedos sending them money.

it sounds super gay
Posted via Mobile Device

[eDave]

This is pretty much how Justin Beiber was discovered. Tread lightly.

[MTG#10]

The phone bill thing is a great idea but he doesn't have service...only works on WiFi. I could start making him pay for the wifi he uses though :D

[notorious]

This is a good thing that could have bad results. The good thing is that he is making easy money. That bad thing is that he is making easy money.

If a kid thinks it's easy to make that much money with ease at a young age it will probably hinder work ethic development.

I would let him spend 10% and put the rest into his savings, but I am a hardass.

[Tombstone RJ]

So there's an app for iphone and android called "Musical.ly" where kids lip-sync to songs and if they're good they get fans to subscribe. My boy has always had little girls after him but since he started doing this a couple weeks ago he's already become somewhat famous in Musical.ly land. He even has groupies, and a couple little girls have their profile pics as them kissing a picture of him they apparently printed out.

Basically the way it works is you can add money to your account and send it as "gifts" to people you like. He has been getting so many "gifts" that he's now cashed in for a total of $1000 and he says he almost has enough to cash out another hundred. I didn't believe him until he started Paypal-ing the money to me for me to withdrawal for him. I told him that he can spend some but he's going to save the rest. He obviously didnt like that idea and now he's giving me the silent treatment.

Has anyone here had a young child that started making a decent amount of money, and if so how did you handle it?

You're doing the right thing but remember, if you don't practice what you preach, your kid WILL know. So yes, give him a percentage to spend (10%?) and put the rest in savings for a car or college or whatever. But let your son know you live this out too.

[TLO]

MTG - you live one hell of a life. :clap:

[Chief Northman]

Fucking Pizzagate front.

Sick bastards.

[kcxiv]

not shocking, people make millions of dollars a year streaming themselves playing video games. Its a new world out there.

[Pasta Little Brioni]

More fake MTG stories...hooray!

[T-post Tom]

<iframe width="560" height="315" src="https://www.youtube.com/embed/_K6o6w3d06c" frameborder="0" allowfullscreen></iframe>

http://3.bp.blogspot.com/-OxMqIB-TeOg/UDzIa2AJWaI/AAAAAAAAUmo/fB4DI92p3Yc/s1600/SAM%2B1.png

[DaFace]

I know nothing about this from a parenting perspective, but I'd definitely check into the tax implications. Unless he starts making "real money" you might not have an issue with federal taxes (under the standard deduction), but if he gets a 1099, there might be a variety of things you aren't expecting.

Here's an article to talk through some of the considerations.
http://www.bankrate.com/finance/taxes/teen-jobs-and-tax-issues-1.aspx

[LoneWolf]

WTF! My son is too young to be involved with a phone and apps yet, but if I caught him downloading videos of himself lip syncing, I'd take his phone away. If I caught him sending "gifts" to someone based on a video of them lip syncing, I'd whoop his ass.

[Coochie liquor]

now he has enough money to pay for his phone service :D

My oldest daughter is 23, and married with 2 kids. But I still pay her phone bill, lol. Mostly because we're in the middle of a contract, but yeah....

[Bugeater]

My kids have that, I hate it. Most annoying thing they watch with their limited time on screens. Small clips of annoying songs being lip synced by annoying kids.

I make my kids keep theirs private because I don't want pedos sending them money.
Ehhh...yeah. This shit sounds like pedo heaven. To be honest I don't think anyone under the age of 18 should have a smart phone at all. Too many bad things and very few good things can come from it.

Hell, for that matter a lot of adults shouldn't have them either. Like the fucking idiots who can't fucking put them down when they're driving in fucking rush hour traffic on the fucking interstate.

[Dartgod]

Ehhh...yeah. This shit sounds like pedo heaven. To be honest I don't think anyone under the age of 18 should have a smart phone at all. Too many bad things and very few good things can come from it.

Hell, for that matter a lot of adults shouldn't have them either. Like the fucking idiots who can't fucking put them down when they're driving in fucking rush hour traffic on the fucking interstate.

You seem angry.

[Bugeater]

You seem angry.
Angry? No. Not at all. I enjoy driving in heavy traffic among people who are driving 5 mph slower than everyone else and randomly hitting their brakes and veering in and out of their lanes because they're more fucking concerned about what is going on with their phone than getting home alive. I look forward to it every time I leave work.

[MTG#10]

Angry? No. Not at all. I enjoy driving in heavy traffic among people who are driving 5 mph slower than everyone else and randomly hitting their brakes and veering in and out of their lanes because they're more fucking concerned about what is going on with their phone than getting home alive. I look forward to it every time I leave work.

The worst that Ive noticed is people not going when the light turns green because they're looking at their phone. It literally happens at almost every light every single day for me.

[Simply Red]

not shocking, people make millions of dollars a year streaming themselves playing video games. Its a new world out there.

only Leafy and Pewdie - I've seen no others pass one million.

[Simply Red]

Christ not even This is Dan Bell - and he's one that actually deserves one million or greater.

[ThaVirus]

I thought this shit died out like a year ago..

A girl I follow on instagram is all about this type of shit, though.

Attention needy weirdos. This is some shit I'd expect Dr Pepper to be into.

[DRU]

Lots of opportunities here. I would recommend speaking to a CPA / Tax Attorney.

One option would be that you could create a small business and make your son an employee of the business. Not only will this save YOU thousands of dollars a year in taxes, but now your son is an actual employee of a business, which means you could create an IRA for him and begin investing his cash into simple index funds and start compounding early. He may give you the silent treatment today, but he'll be singing your praises when he's 25 and realizes what you did for him.

[Chiefspants]

Lots of opportunities here. I would recommend speaking to a CPA / Tax Attorney.

One option would be that you could create a small business and make your son an employee of the business. Not only will this save YOU thousands of dollars a year in taxes, but now your son is an actual employee of a business, which means you could create an IRA for him and begin investing his cash into simple index funds and start compounding early. He may give you the silent treatment today, but he'll be singing your praises when he's 25 and realizes what you did for him.

QFT

[Valiant]

Ehhh...yeah. This shit sounds like pedo heaven. To be honest I don't think anyone under the age of 18 should have a smart phone at all. Too many bad things and very few good things can come from it.

Hell, for that matter a lot of adults shouldn't have them either. Like the ****ing idiots who can't ****ing put them down when they're driving in ****ing rush hour traffic on the ****ing interstate.

There was just one in the news about that. Adults contacting kids and messaging them through there to meet up.

Granted they can do it on any social app.

[Ming the Merciless]

Lots of opportunities here. I would recommend speaking to a CPA / Tax Attorney.

One option would be that you could create a small business and make your son an employee of the business. Not only will this save YOU thousands of dollars a year in taxes, but now your son is an actual employee of a business, which means you could create an IRA for him and begin investing his cash into simple index funds and start compounding early. He may give you the silent treatment today, but he'll be singing your praises when he's 25 and realizes what you did for him.

Im not 100% but there used to be age minimums on IRA's like 18 or 21

but you could use a different vehicle

edit: maybe not....maybe there is no age limit these days

Im old

But yuah if you can do a roth IRA i would 100% go this route

[LiveSteam]

We're are so screwed.

[kcxiv]

only Leafy and Pewdie - I've seen no others pass one million.

lirik and Summit easily pull that with donations. i've seen summit talk about needing to buy rims for his 200K car and people donated the 8 grand in like 30 fucking minutes. They make a killing.

[threebag]

I don't know of how handle the parental side of this (a mandatory 50% to savings/college fund/investments would be my advice).

However, this app is HUGE with a few of my 6th grade technology students - it's great to know I've been encouraging them toward something with legitimate capital potential.

Fuck that 50% bullshit for college. That's a parents bill, it doesn't fall on the child. As long as he is responsible with the funds let him ride them out.

[Mile High Mania]

Yeah, it's just 12-14 year old girls sending your son gifts... keep telling yourself that.

[Chiefspants]

**** that 50% bullshit for college. That's a parents bill, it doesn't fall on the child. As long as he is responsible with the funds let him ride them out.

I had a full disclaimer that I had no idea how to handle that situation, as I am not a parent.

[kevonm]

lirik and Summit easily pull that with donations. i've seen summit talk about needing to buy rims for his 200K car and people donated the 8 grand in like 30 ****ing minutes. They make a killing.

Imaqtpie making 2 mill a year on twitch, that is before sponsors. Just had a rolling Stone article on him

[SBInfinity]

So there's an app for iphone and android called "Musical.ly" where kids lip-sync to songs and if they're good they get fans to subscribe. My boy has always had little girls after him but since he started doing this a couple weeks ago he's already become somewhat famous in Musical.ly land. He even has groupies, and a couple little girls have their profile pics as them kissing a picture of him they apparently printed out.

Basically the way it works is you can add money to your account and send it as "gifts" to people you like. He has been getting so many "gifts" that he's now cashed in for a total of $1000 and he says he almost has enough to cash out another hundred. I didn't believe him until he started Paypal-ing the money to me for me to withdrawal for him. I told him that he can spend some but he's going to save the rest. He obviously didnt like that idea and now he's giving me the silent treatment.

Has anyone here had a young child that started making a decent amount of money, and if so how did you handle it?

12 year old girls are not sending your kid money. 12 year old girls don't have money.
Glad he's making new 'friends' though.

[loochy]

pedotacular!
Posted via Mobile Device

[notorious]

Somebody finally said it.

[ChiTown]

Somebody finally said it.

it?

[Demonpenz]

Sounds too good to be true. Seems cool now but this is the way life is. When you thinking something is going well it is just a setup for life to screw you. When life is going bad it is just life setting up to screw you.

[KCUnited]

Sounds too good to be true. Seems cool now but this is the way life is. When you thinking something is going well it is just a setup for life to screw you. When life is going bad it is just life setting up to screw you.

Life being a 400lb man out on parole in this scenario.

[Bugeater]

I had a full disclaimer that I had no idea how to handle that situation, as I am not a parent.
Don't take advice from someone who has probably never set foot on a college campus.

[Chiefspants]

Don't take advice from someone who has probably never set foot on a college campus.

My parents college fund for me dried up in the first quarter of college. I felt fortunate that they agreed to cover half of my 5 year stretch at KU, as they're the reason I'm only 50K in debt right now, rather than 100K.

I do wish I had figured out a way to save at a young age, anything that could have helped me take avoid taking a non-government loan would have been amazing. Ah well, now that I'm a year in the workforce, I have no regrets.

[TLO]

lirik and Summit easily pull that with donations. i've seen summit talk about needing to buy rims for his 200K car and people donated the 8 grand in like 30 ****ing minutes. They make a killing.

I've made some donations to streamers, but never more than 5 or 10 bucks. And these are for guys that are lucky to get 500 views.

[ChiTown]

My parents college fund for me dried up in the first quarter of college. I felt fortunate that they agreed to cover half of my 5 year stretch at KU, as they're the reason I'm only 50K in debt right now, rather than 100K.

I do wish I had figured out a way to save at a young age, anything that could have helped me take avoid taking a non-government loan would have been amazing. Ah well, now that I'm a year in the workforce, I have no regrets.

I went to College in the 80's. It was still very affordable for a kid to work and pay his way through College, especially at a State School, without having much debt . In today's world, it's next to impossible (without scholarships) for any kid to pay for his own schooling without having a massive amount of debt to start their post-college life.

This is the reason why my wife and I are going to pay the entire bill for our kids to go through school. We have been fortunate enough to put aside the funds necessary to pay for any undergrad and postgrad education. If it weren't for the fact that I have two awesome kids that understand the gift that we are providing for them, it would be more painful footing these bills. As it is, my oldest will be off to K-State this Fall with about $10K/yr in scholarship money. We will happily pay for the balance. Their only responsibility is to cover any non-school related items - ie. spending money (which isn't cheap either). They have both saved a good chunk of money to cover those expenses.

[Chiefspants]

I went to College in the 80's. It was still very affordable for a kid to work and pay his way through College, especially at a State School, without having much debt . In today's world, it's next to impossible (without scholarships) for any kid to pay for his own schooling without having a massive amount of debt to start their post-college life.

This is the reason why my wife and I are going to pay the entire bill for our kids to go through school. We have been fortunate enough to put aside the funds necessary to pay for any undergrad and postgrad education. If it weren't for the fact that I have two awesome kids that understand the gift that we are providing for them, it would be more painful footing these bills. As it is, my oldest will be off to K-State this Fall with about $10K/yr in scholarship money. We will happily pay for the balance. Their only responsibility is to cover any non-school related items - ie. spending money (which isn't cheap either). They have both saved a good chunk of money to cover those expenses.

That's awesome. Super congratulations to your children and it sounds like they are well on their way to making an impact in this world. By the looks of things they have it much more together than I ever did in high school.

I've often been told (usually by relatives via facebook) that "my generation" isnt willing work to work through school to pay off their college expenses. That's always been funny to me, I worked the entire time I was in college from anywhere between 15 to 45 hours a week, but most of that was wiped away immediately to pay for my rent and other living expenses. There was a time where I collected about $1400 in savings (a big deal for me at the time), but that vanished after a car wreck and when I bought new tires.

Major props to your kids for accomplishing so much already and to both you and your wife for understanding both the importance of college and the insane costs that are put on students today.

[tooge]

I don't think alot of 12 year old girls have money to dole out, so I'm guessing it's not them doing it. Also, why not teach the boy about hard work? Mow some lawns, rake some leaves, shovel some snow. Profit. To each their own, but I think shit like this is a problem with our youth these days. Go fishing, play ball outside, build a fort, etc. Get off the damned phone. He's 12yo for fucks sake. Those condoning this shit probably don't have kids and think it's a neat and "cute" way to make money. NOT. I'd stop that shit asap.

[The Franchise]

Fuck that 50% bullshit for college. That's a parents bill, it doesn't fall on the child. As long as he is responsible with the funds let him ride them out.

The fuck you say?

[Chiefspants]

Get off the damned phone. He's 12yo for ****s sake. Those condoning this shit probably don't have kids and think it's a neat and "cute" way to make money. NOT. I'd stop that shit asap.

Except social platforming and software industries are literally in the top 5 growing industries in the country. If you want your kids to be prepared for the economy they're going to graduate into, it's essential they have guidance for how they can start grassroots campaigns, businesses and market their efforts while not destroying their reputation to colleges and other workplaces on social media platforms. I certainly understand the importance of encouraging kids to get outside and pursuing lawn mowing or babysitting (I worked both jobs from 12-14)

Kids are learning how to use this tech regardless. Would you rather they learn how to use it online without any guidance, or would you rather have parents and teachers who can show them how to navigate and master the digital highways?

[tooge]

Except social platforming and software industries are literally in the top 5 growing industries in the country. If you want your kids to be prepared for the economy they're going to graduate into, it's essential they have guidance for how they can start grassroots campaigns, businesses and market their efforts on social media platforms. I certainly understand the importance of encouraging kids to get outside and pursuing lawn mowing or babysitting (I worked both jobs from 12-14)

Kids are learning how to use this tech regardless. Would you rather they learn how to use it online without any guidance, or would you rather have parents and teachers who can show them how to navigate and master the digital highways?

I'd rather they learn to use tech in school and by using their computers/phones to research things they like to do, things they need to for school, etc. Tech is awesome. They need to know it. I don't think lip syncing and watching others do so, and paying money to each other to do so, is valuable at all. Marketing through social media can be learned without this type of shit. We probably wont agree on this one, and that is fine. like I said, to each their own. I woundn't allow it in my home though. Btw, my kids are both teenagers and have phones. They are allowed to be on them for 30 minutes per night. I'm just not for this type of thing.

[Chiefspants]

I'd rather they learn to use tech in school and by using their computers/phones to research things they like to do, things they need to for school, etc. Tech is awesome. They need to know it. I don't think lip syncing and watching others do so, and paying money to each other to do so, is valuable at all. Marketing through social media can be learned without this type of shit. We probably wont agree on this one, and that is fine. like I said, to each their own. I woundn't allow it in my home though. Btw, my kids are both teenagers and have phones. They are allowed to be on them for 30 minutes per night. I'm just not for this type of thing.

Nah, we definitely have common ground there. I work with a lot of parents who are of the same mindset.

The problem is that a lot of the tech programs I've seen as a teacher are refried ass. The school I student taught at last year had a "state of the art" tech curriculum that featured Windows XP, Microsoft Office, and Dreamweaver. Tech programs are often underfunded and set in place by school administrators who don't see or understand their value, which means kids are often underserved in that capacity.

I am a Teacher that utilizes tech in the classroom every day, so I'm a bit biased. Basically I encourage my students to run wild with their ideas as long as they understand how to stay safe and their parents are in the loop each step of the way. I have a base curriculum that doesn't really touch these social media apps - but when my students have ideas to make a music video in leui of a book report, or integrate technology in a similar fashion, I'm always game if the parents understand the application and give their support to the process.

[tooge]

Nah, we definitely have common ground there. I work with a lot of parents who are of the same mindset.

The problem is that a lot of the tech programs I've seen as a teacher are refried ass. The school I student taught at had a tech curriculum that featured Windows XP, Microsoft Office, and Dreamweaver. Tech programs are often underfunded and set in place by school administrators who don't see or understand their value, which means kids are often underserved in that capacity.

I am a Teacher that utilizes tech in the classroom every day, so I'm a bit biased. Basically I encourage my students to run wild with their ideas as long as they understand how to stay safe and their parents are in the loop each step of the way. I have a base curriculum that doesn't really touch these social media apps - but when my students have ideas to make a music video in leui of a book report, or integrate technology in a similar fashion, I'm always game if the parents understand the application and give their support to the process.

That is different. If my kids wanted to make a video and put it out there and then do a school report on it, I'd be all for it. In fact, my son and two of his baseball buddies made a fishing channel last summer and put up videos on youtube of them catching fish all summer. I'm not sure why I feel that is different than paying each other to watch each other lip sync, but I just do. Maybe I'm just old fashioned.

[Mile High Mania]

The family in this story has bigger issues, one being ... why does an 8 year old have access to this stuff?
http://ijr.com/2016/12/766132-dad-posts-warning-to-parents-about-predators-in-popular-music-app-he-isnt-the-only-one-raising-flags/

“Apps like this strike me as the Amazon shopping list Craigslist of children,” said Crowetz.
http://www.wptv.com/news/region-c-palm-beach-county/west-palm-beach/new-music-app-causes-concern-for-parents

[kcxiv]

Yeah, it's just 12-14 year old girls sending your son gifts... keep telling yourself that.

you need to look up just how much people can actually make using shit like this. its a different world out there. You just havent seen it. People will pay others if they are entertained. There are internet stars out there. You might not like it, but thats how it is.

[kcxiv]

I've made some donations to streamers, but never more than 5 or 10 bucks. And these are for guys that are lucky to get 500 views.

i've subbed to a few people. Mostly i will keep a sub to CDNTHE3RD that dude is fucking hilarious. Its almost better then watching tv shows at times. I mostly just watch them on my 2nd monitor while im gaming.

[Mile High Mania]

you need to look up just how much people can actually make using shit like this. its a different world out there. You just havent seen it. People will pay others if they are entertained. There are internet stars out there. You might not like it, but thats how it is.

I'm familiar with the Internets

[Ming the Merciless]

<iframe width="560" height="315" src="https://www.youtube.com/embed/hseWFlyq3tA?ecver=1" frameborder="0" allowfullscreen></iframe>