We will all need multiple income streams throughout our Happy Cash Flow Retirement. The days off depending solely on social security or a pension are long gone.
Luckily, the internet allows us to create income from thin air, but it won’t be easy. Everyone and everything is competing for the same eyeballs.
Therefore, to create an income stream as a writer, we must stand out with our voice, passion, and (most importantly) consistency.
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Why writing, why now? Each creative discipline has its own trajectory that you should try to comprehend. The more you understand how the cash flow works, the better you can choose how to spend your time.
Writing and music have a long tail. You put in long hours for years before the general public will notice. However, they will want to plunge deeper into your back catalog once they find you.
YouTube is much more fast-paced. If you put in the work upfront, you can gain a massive following in a few years. However, you will always depend on the YouTube algorithm to put you in front of consumers.
The shelf-life of YouTubers seems to be around ten years before they burn out completely. YouTube will penalize you for making content that is not on-brand, meaning you have to follow a strict pattern for those years.
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Chances are you will make more money on YouTube over ten years than you will over a lifetime of writing. However, don’t be fooled; YouTube will become a full-time job.
Becoming a writer allows you to build your own blog, create a newsletter, write about whatever you want, release books for Amazon, and help other writers, bloggers, and content creators. In short, writing is a leap into a whole new world that you can curate to your lifestyle.
Separating yourself from other writers. Writing is the grind. Do not enter this profession if you think it will be easy or people will hand you freebies.
Writing is so difficult because anyone can wake up and start writing. It doesn’t take much overhead—just a computer and internet connection.
The way to stand out from writing is to write every day. Anyone can write once a week, but you must publish daily to get yourself above the rest.
The True Costs of Owning a Home
I have written every day for three straight years, generating over 1,000 articles for my blog and 1,000 books on Amazon (my articles in book format).
Creating a daily book began to wear me down because it takes roughly four hours daily. Once I retired from the military, I slowed down my writing cycle.
Now, I produce a book across three days: one day to write, one to edit, and one more to create the book. It’s important to remember that I still have my 1,000 books on Amazon working alongside my efforts.
Where will you write? If you want to make a career in writing, you must write about things no one else is covering. Your content must be fresh and different, giving you the edge in the long term.
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Each platform has a different algorithm that you must understand; however, I also recommend you have your own website and blog on the side.
If you write for Medium, it’s all about having catchy titles for your writing. However, these titles won’t make good book titles.
Only start a newsletter if you are a serious writer. Your subscribers pay money to hear from you every day, and you can’t disappoint them.
I believe the best platform for all writers is Amazon. You’re in a prime position if you can get 200 to 400 short books (50 pages) on Amazon.
After a few years, you can make a push to advertise one book. If you can get that book to rank on Amazon plus have a massive backlog, it’ll set you up for a long time.
Being Mediocre Is Not Okay
In February 2024, I am on track to earn $250 in book royalties on Amazon. It may seem like a small amount of money, but I have almost zero following. With a larger following, this number will grow exponentially.
With 1,000+ books behind me, I can make a push on Medium, LinkedIn, email newsletter, or my blog. My backlog will flourish once I get more of a following on these platforms. As I said, writing is a long game.
What will you write about? The only way to become a great writer is to push yourself to create new real-life experiences. Here’s how.
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First, come up with an overarching theme for your content. Mine is financial freedom. This is a comprehensive stroke for me to paint.
Second, I divide these topics into six subtopics: financial mindset, retirement planning, investing, royalties, real estate, and business.
Read books inside each of these categories to gain a deep perspective. Start writing about your experiences in each subcategory.
Eventually, you’ll begin to have strong opinions in each of your subcategories. However, the real magic is yet to come.
The book “How to Take Smart Notes” shows how to combine content from multiple categories to make wholly original content.
The Six Types of Income Investing
For example, let’s say I have articles on Treasury Bonds (investing), moving to a small city (real estate), and living on a budget (retirement planning).
I can write an article about moving to a small city and living on passive income from Treasury Bonds (I may write this article).
What makes you stand out is that you aren’t just talking randomly. You have long-form articles about Treasury Bonds, living on interest, moving overseas, living in a small city, budgeting, and living below your means.
Most people talk shallowly about their topics, leaving the reader to guess how to maneuver next. Once you become a hardcore writer, you will serve as a conduit to readers’ dreams, goals, and ambitions.
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Conclusion. Writing will push you to create new experiences for yourself so that you can keep driving your writers forward as well.
For example, I started trading options to cover this challenging topic under my investing category. Now, I can add options as another income stream my readers can do during retirement.
I also started attending college using my GI Bill as an income stream. My military readers can now begin to see how their retirement can look using these benefits.
Of all of my income streams, I make the least from writing. However, it is the one that gives me the most pride. Most people will never release a book, let alone have someone buy it.
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90% of writers make $100 or less on Amazon, a massive library of millions of books. I am blessed and grateful to earn over $200/month.
However, if I stick with it, I can make over $1,000/month. Honestly, it’s not about the money. I can make more trading options in one day ($4,000) than in a year in writing.
But, there is something about releasing a book, article, or blog post and thinking about how you can change the reader’s life by introducing something new into their mindset.
To change people’s lives, you must change your life. The more you combine different aspects of your life into new content, the more readers will seek out your work.
Becoming a writer helps me unite all aspects of my life. I love talking about money, but it’s even better to write about it. If you’re ready to lead an extraordinary life, become a writer. Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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