Managing Your Finances for Pole Dancers
While most of the financial advice out there isn't strictly limited to pole dancers
, there are certain considerations that are more particular to them than other tip-based fields. There are things exotic dancers especially need to have it in mind, particularly that the lifespan of their career is potentially much shorter than in most other careers, so planning for retirement is especially important. Otherwise, you could wind up being a down-and-outer or working at a convenience store.
Strip Your Way Through CollegeSeriously
A great many of the ladies who say that they're stripping their way through college only use it as a ruse to get higher tips out of the gentlemen at their club. In some cases, it's actually the truth, and these ladies are a step ahead of many of their colleagues. They have the realization that they can't strip all their lives.
There can't be any doubt that this option is difficult. Pole dancing takes a lot of energy and you could be too tired to study after a long night at the club. Time management can also be an issue. Study before you go to work, that way you can get a good night's rest for school the next day. Above all, don't join in the after-party sceneit drains your time, money and energy.
Being a Party Girl without Spending a Dime
In pole dancing and stripping, you are automatically the life of the party. You don't have to do anything extra to be the center of attention. Only drink when a patron offers to buy, and even then it's a good idea to talk to the bartenders about slipping you "virgin" versions of your favorite drinks. And above all, do NOT get into drugsever, for any reason. They can empty your bank account quickly, drain your energy, dull your focus and age you faster. Remember, a well-played career can help you reach retirement earlier than most other careers, so you have to keep putting the money back and you should do everything to keep your appeal as long as you can.
Besides, when you're under the influence, you aren't as mentally sharp. It's your job to get as much money as you can from the club goers, so you have to be sharper than the most sober guy in the room. Sobriety also has the added benefit of keeping you alert for situations when people "cross the line."
Investing for Your Retirement
It's an extremely rare gentlemen's club that offers a retirement plan. You're not going to get a 401K as a pole dancer. It then becomes in your best interest to start talking to investment consultants. In most cases, the plans they will offer involve some investment in stable interest-bearing accounts like Bonds and Certificates of Deposit with a sprinkling of stock market investments for the higher payouts. Above all, no one is going to look out for your money like you do. Don't be taken for a ride by companies that are taking a cut of your action. I always recommend Vanguard or Fidelity because they don't make money unless YOU make money.
First things first: you have no business investing until all your debts are paid off. That's right! Anything with payments and interest can bite you in the rear, so minimize what you can on these things, the exception being a home loan. Then get an IRA started. You can then move on to "Mutual Funds," as they are your best bet to make your money start working for you. They are low-risk and almost always pan out in the long run. The average rate of return for mutual funds is 11.5% on your money. That sure adds up over the years!
Investing your money is important for all exotic dancers, whether you're actually stripping through college or not. Although your career as a dancer is probably going to be shorter than if you had chosen another, what happens after that is completely up to you. Now, do you want to create a life of your own choosing, or do you want the same thing everyone else seems to have?
Managing Your Finances for Pole Dancers
By: Jennifer McCumber
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