I recently visited Joe Konrath's blog and stumbled upon a thought-provoking post by Lee Goldberg, author of the Mr. Monk series. Joe's detailed sales figures, particularly his impressive e-book sales, left me pondering a common question among writers: "How much money do I need to become a full-time writer?"
In my musings, I envisioned skyrocketing book sales, a surge in blog traffic, and the allure of fame and fortune. It's a fantasy that plays in the recesses of my mind, akin to a shy observer peering over the backyard fence at a neighbor hanging laundry. Excitement washes over, but there's a tinge of guilt upon reflection.
While writers thrive on such fantasies, a pragmatic approach is essential to turn dreams into reality. So, where do I stand financially, devoid of fantasy, relying solely on hard numbers?
The answer: $80.00 a day. It might not prompt an immediate departure from my current job, but realistically, that amount would replace my existing income. With no retirement plan and stagnant wages for five years, my expectations are modest. A steady income mirroring my current job would be a tempting proposition.
Boiling down my thoughts, I've distilled this post into three crucial points:
Determine Your Financial Needs: Clearly outline the financial threshold that would make the leap to full-time writing feasible.
Build a Comfortable Buffer: Incorporate a financial safety net to alleviate constant money worries, ensuring a smoother transition.
Make Decisions Strategically: Evaluate the path to achieving your financial goals. What steps will lead you to the place you desire or need to be financially?
This post serves as a starting point, offering a glimpse into my current contemplative state. The journey is not fully mapped out, but the seeds of a plan are taking root. Stay tuned for further exploration into these pivotal aspects of a writer's journey toward financial independence.
No comments:
Post a Comment