OrlandoNative wrote:That said, if the only source of income is from authoring, it's sort of hard to not want to do more. One would think that that would be where residuals/royalties from prior books would come in, though. There are always newbie readers, which, unless the contracts with the publishers aren't favorable, should at least somewhat replenish the coffers.
I know an assortment of traditionally published writers working in the genre. I think I know two at this point that mostly make their living at it, but one is a former editor who also provides book doctor services and is part time in the wine business (a strong hobby interest she was able to turn pro), and the other has a spouse whose incomes helps fill in the valleys between the peaks. The others have day jobs and write on the side, or have a spouse whose income pays the bills, so income from writing is gravy.
If you're a midlist author, you get an advance for a book, but likely don't see royalties. Royalties happen after the book earns out, and covers the publisher's cost to produce it and the advance you were paid. Most published books don't earn out, and agents try to negotiate contracts to insure that. Since the author is unlikely to see royalties, go for as large an advance as possible.
And if you are trying to do it full time freelance, having a book under contract with an editor waiting for final copy is good, but once that book's done, then what? At the same time you are working on book in progress, you are likely sending out proposals for other books, so there will be more work in the pipeline.
Things are easier for David, because the Honorverse and Safehold books tend to hit the NYT best seller lists these days, so he will see royalties. But David seems to just like to write, and being constantly busy is good.
(The late Isaac Asimov irritated his first wife by taking a typewriter on vacation. He needed to write every day, no matter what. Isaac isn't the only one like that.)
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Dennis
