There will be days, weeks, or even months when the amount of money off trading may not be sufficient to live off of. Sure you can always get a job, but maybe that is not your cup of tea. If you have got something interesting to share, then perhaps try writing a book.
Now many people are probably thinking that there is no way they can write more than a couple page on a single topic, but if you really choose something you are interested it can all just flow out.
Anyways, I first decided to do a little research when I read an article that outlined current Democratic hopeful, Barack Obama. In an attempt to help boost his status, Obama released his tax returns for the last couple of years. Apparently in 2004 and 2006 Obama and family brought in about $1,000,000. My first thought was how could somebody in the government be making that much money. I mean the President only makes like $200,000 or something like that, so what was Obama doing? I kept reading the article, and to my surprise much of Obama’s income came from the royalties off his two books. Both books brought in about $600k – $900k.
The first book basically covers his “unusual” life, while the second one is about the broken connection between the Government and the people. How exhilarating. Now granted Obama had somewhat of a greater sense of importance for people to want to read his book, but they both came out before the presidential race had begun and honestly I would never want to read them.
If you have an idea/pitch for a book, then you can either find an agent to help get your book published or some people even proposed that it was more profitable to do it yourself. Popular author Tom Clancy got his first book published without an agent. When a contract is being drafted many publishers will offer a non-refundable advance. It could be anywhere from $100-1 million. It all depends on how well they think your book will do. Further payments will come from royalties such as 8-11% per book.
Sure not all books will bring in a millions of dollars, but if you got something to say, then why not give it a try? Many bloggers have been able to make it their career because they have gotten book deals out of the whole ordeal. Who thought a book about some teenager wizard on a broom would be interesting? Now the author is a billionaire.