Hi! Dominique Gibson is back with another post, this time of a different nature. So, for the last two weeks or so, I have been thinking a lot about my finances and my future when it comes to being a toddler teacher at a daycare center. As of right now, I have no savings, no investments, no stocks, bonds…nothing. For the longest time, I have been depending on my job as a way of financial security but as I learned by going through both the recession in 2008 and the COVID-19 pandemic in 2020, it caused me to open my eyes and to really think about my finances on a broader scale. So, I decided to set a goal for myself: I want to become a millionaire in five years and a billionaire in ten years.
I knew that in order for me to achieve this goal, I had to start small. So, the first step I decided to do was a search on what the millionaires are reading in order to become millionaires. The first book I decided to do that peaked my interest was The Millionaire Next Door by David Bach. I have been reading this book for at least two weeks now and it has been very eye-opening. I really don’t want to give too much away considering I want more people to read this book (Especially writers who want to achieve the same goals I want to right now) but I want writers to think outside the box when it comes to gaining financial wealth.
I have read about many writers who live solely off of writing full-time. While I am more than aware that this is the ultimate dream for most writers, I would highly suggest that a writer should explore other options when it comes gaining financial freedom. Depending on one source of income is always a mistake. Writers need to diversify their skills in other areas or even in other genres to stay afloat in the publishing industry. The same holds true for your finances as well. If you really want to achieve the financial success you want, I highly recommend you start with this book. It’s free on Amazon through Kindle Unlimited. I will provide the link down below if you are interested in learning more about this book.
Another reason why I decided to get serious about my finances is because I didn’t want to depend on my book sales to earn a living. Publishing is fickle. Amazon may be the most popular platform for know but things might change in the future (Take a look at MySpace and Facebook as an example). I want to be able to write freely without having to worry about my finances in the process. I still want to continue to self-publish my paranormal romance in the future. I have also tinkered with traditional publishing as well in the future.
As I previously said, the link for The Millionaire Next Door is down below.
See you soon.
Dominique Gibson knew she wanted to be a writer ever since she sat down at her plastic table and wrote her first book out of sheer boredom at eight years old. Years later, she decided to go get her Bachelor’s Degree from Columbia College Chicago. She is obtaining her master’s degree in Creative Writing from Southern New Hampshire University. When not writing, she is busy teaching two year olds at a daycare center in Skokie, IL. For more information, check out her website at http://www.dominiquegibsonauthor.com.