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#266: From Living On Tips to Financial Independence - One Woman's Journey

Real Estate Investing with Coach Carson

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What Are the Disadvantages of Tipped Employment?

Tipped employment is the only other employment type that has its own separate subminimum wage, which federally is $2.13. People in the service industry tend to not claim all of their income and therefore are ineligible for traditional funding for primary residence. Majority of retired service industry professionals lives solely on Social Security. They age into the most economically disadvantaged. There's a reason that tips are a part of their compensation because you get to be a part of that experience.

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