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Old 11-08-2017, 08:03 AM
bigpicture bigpicture is offline
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Originally Posted by Kiernansmom View Post
What do you mean by passive income? I've never heard of people actually making a good amount of money from the passive income I know of, but maybe you're talking about something else completely. I can say I've been writing for 10 years, and writing has paid the bills for about 8 of those years (and I have a lot of bills, sadly). I'm definitely not well off from writing, but I do make a full-time income working about 20 hours a week. I average about $30-40 an hour and can often write while my kids are home. It took probably 5 years to work up to this, so I often made $10-20 an hour and had to work 30 hours to basically still be broke...but I still consider it worth it while my kids are young. You really have to find the right mix of clients (which is sometimes a crapshoot) but I can't picture giving up at this point. Also, I don't think this issue is unique to writers. Freelance designers and probably a lot of other types of freelancers often go through the same challenges. I would still rather deal with my freelance writing problems than work in an office, at least for now. Granted, I may be persuaded if a job was paying high enough and my kids were both in school most of the day, so never say never.
“Passive income” = do the work once & get paid perpetually ... It’s “passive” because it doesn’t demand much additional “active” work.

Writing a book, for example, can bring you “passive” income (“passive” in quotes, because you still have to promote)...

Most people don’t make much passive income, but even if you make just a little, it adds up — especially if you keep a number of projects going.

Creating streams of passive income should be the first step toward a freelance career (imho) because it both “tests your powers” and sets you up for greater financial security (if your projects are successful). Some creatives find they’re so successful at these passive income projects that there’s no need for working with clients.

I think the internet is a blessing for people who want to build a passive income... & far more of a mixed bag for people who aim to work for clients ... You mentioned graphic designers. Designers are a good example in fact of how the internet can undermine creatives who aim to work for clients. They’re now competing with outfits in third-world countries. Those easy jobs that once went to beginners now go to third-worlders on bidding sites.

Anyway, it’s good to hear that you’re making it as a freelancer... I’ve made it fo a while, but it’s a precarious living... especially without a spouse’s second income.

The proverbial “feast or famine” of freelancing doesn’t work for me — especially if the “feast” means writing all day & all night because all your clients want their stuff by yesterday... and the “famine” means not being able to vacation or splurge once in a while because no “cushion” is big enough & you have to constantly prepare.

...So it’s back to having a boss for me! I will continue to try to get rich though... :^)

I just think beginners need to hear a more realistic picture than is currently being painted around the internet. People make career decisions based on this stuff — so more balance & less “pie in the sky” serves them better I think.
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