Why Financial Independence Is Like Self-Publishing

As of this morning’s freelance paycheck, I have $100,203.85 in assets and $825.44 on two credit cards that will both get paid off tomorrow, giving me a total net worth of $99,378.41.

I mean, I’m more excited about the “$100K in assets” figure, since I’ve been working towards that goal for a while (even though I know I probably won’t hit a for-real six-figure net worth until I get my next freelance paycheck).

After this, I guess the next big goal is a total investment portfolio value of $750,000, which — at the recommended 4% annual withdrawal rate and the level of frugality I’ve managed to maintain since college — should render me financially independent. 

In other words, I’ll be able to live exclusively off my investments if I choose.

The various online calculators suggest this will happen in the next 10-12 years. I am smart enough to understand that other things may happen in the next 10-12 years to shift that goal, but optimistic and/or dedicated enough to decide it’s a goal worth working towards regardless.

Being able to live half off my investments and half off my freelance writing and teaching and self-publishing income, for example, would also be good.

There are a lot of potential success scenarios here.

There are also a lot of potential success scenarios for a self-published book — like, it’s literally the first lesson I teach in my online Finances of Self-Publishing course (which you can take next month, sign up here).

You could write a runaway bestseller; you could write and publish a book a year and sell it to your 1,000 True Fans; you could write a book to preserve a piece of family history and use tools like Reedsy and IngramSpark to create a beautiful hardback copy that’ll last for generations.

Self-publishing can also get you many of the aspects of “the author’s life” that a lot of us dream about: a book launch party with cake and sparkling beverages, the opportunity to do readings and signings at bookstores and libraries, the professional expertise required to teach classes or speak on panels at conventions. A quiet home office with plants in it. The ability to say “I will block off X amount of time, every day, just for writing my next book.”

(Current NEXT BOOK draft: 12,253 words.)

Of course, you can get the plants and commit to a writing schedule before you finish that first draft — and if you want to learn more about how to do that, you should sign up for my online course How to Develop a Writing Practice, which runs end-of-April through end-of-May. (It’s a self-paced group course, so you’ll take it as a group but won’t have to be at your desk at any specific time for mandatory webinars or anything like that. You’ll be free to do the readings, chat in the group discussion forum, etc. whenever you have time available.)

Just like I’m already thinking about myself as having committed to financial independence — and behaving and budgeting like a financially independent person might behave* — 10–12 years before I’ll actually get there.

But I thought, during my early-morning yoga practice where I usually get my best thoughts, that the whole financial independence thing was strikingly similar to the self-publishing thing. A nearly identical mindset.

Self-publishers take on both the author role and the publisher role. They develop various “success scenarios” for their books — maybe they want to crowdfund their “advance,” the way I did for The Biographies of Ordinary People; maybe they want to sell more than 500 Kindle copies in the first three months**; maybe they want to to go on book tour or get their book reviewed by Kirkus or submit their novel for various awards.

There’s a lot that a self-published author can’t control, such as who wins those awards or how much money Amazon pours into its Kindle Unlimited Fund or whether the market for their particular genre changes, but there’s a lot they can control through research and careful budgeting.

The biggest factor under their control is whether they spend more on their self-published book than they plan to earn (THIS IS THE NUMBER ONE MOST IMPORTANT THING I WILL TEACH IN MY CLASS, BTW).

That’s also one of the biggest factors that will determine whether they’ll self-publish another book and slowly build up a career as a self-published author.

Likewise, the person going after financial independence takes on both the worker role and the employer role, even if they already have another employer. This person is setting aside money for to pay their future salary the same way an employer sets aside money for payroll, and deciding how much they might want to earn in the future the same way an employer decides how much to pay employees.

There’s a lot that this person won’t be able to control, such as whether they get laid off (or lose their biggest freelance client) and have to cut back on their savings goals (or spend money they’ve already saved) until they find another source of income. They won’t be able to control market changes or recessions.

The biggest factor under their control is — you guessed it — whether they spend more than they earn.

Now, I know what you’re thinking, because several years ago I got myself into $14K of credit card debt during a period of underemployment. There are 100% for-sure times when you cannot spend less than you earn because you are simply not earning enough. I have been there. Lots of people are currently there.

If that’s where you are, and you’d like to not be there, I’d recommend reading Vicki Robin and Joe Dominguez’s Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence. This book should be available at your local library (get the 2018 edition if possible; if not, the older editions should be just as good though slightly less relevant to today’s economy) and it absolutely changed my life when I read it while working as a part-time telemarketer.

If you like cats and glitter, I also recommend Lillian Karabaic’s Get Your Money Together: An Illustrated Purrsonal Finance Workbook to Help You Budget Your Money, Save for Retirement, and Smash Debt. This book might not be available at your local library, but it’s exceptionally useful if — well, to quote Lillian Karabaic:

I only started teaching personal finance only because I was frustrated with the lack of queer-friendly, feminist, and, most of all, fun personal finance education out there — especially stuff that deals with actual real-life money issues and doesn’t assume you have one full-time job with benefits, 2.5 kids, and a white picket fence.

I’d also suggest reading Grant Sabatier’s Financial Freedom: A Proven Path to All the Money You Will Ever Need, because Grant devotes the first half of the book to “how to earn more money” and the second half to “how to become financially independent,” so if you’re interested in that, go check it out. Literally.

And if you’re interested in the finances of self-publishing, well… you could always take my class. ❤️

*Contrary to popular belief, “financial independence” doesn’t mean “having more money than you could ever spend.” It’s more like you’re paying yourself an annual salary based on your investment returns. Which means you’ll still need to stick to a budget, and in some ways you’ll need to be more careful about your budgeting and spending than a person who isn’t “financially independent.” After all, you want that pool of investment money to last for the rest of your life.

**The average self-published book sells fewer than 500 Kindle copies, so hitting this benchmark is an early sign of success.

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How to Look for Owls: On Writing, Ritual, and Intuition

Today’s guest post is from Tara K. Shepersky, a writer who holds conversations with inner and outer landscapes via essays, poems, photos, and feet. Read more of Tara’s work at pdxpersky.com or follow her on Twitter @pdxpersky.

I used to have what I thought was a writing ritual. With earnest intent — though perhaps without full possession of the truth — I could tell you that my setting aside of space and time to write had three ingredients: there was a QWERTY; there was an appointment; and, usually, there was an owl.

Some of this, perhaps, is still accurate. More of it may still be useful, as lessons learned. In the last few days — since I sat down to draft this post, in fact — I’ve felt an existential shift, an unmooring of what I thought my practice was.

I will explain, but be warned: you’re reading this almost in real time. You’ve got a front row seat to the dissolution of a writer’s successful creative practice ritual, and I don’t know what’s going to happen either.


The shift began at depth, impossible to ignore but still unnamed. The way I imagine the Santa Barbara Channel feels, when great masses of cold water from its deepest reaches begin to roil toward the surface. The comparison offers some comfort. In the Channel, upwelling is a regular(ish) phenomenon with useful results: a dense flourishing of microscopic life that in turn refreshes everybody else.

I don’t feel refreshed yet; I just feel cold. But maybe I can look at this as an opportunity to examine the elements of what I thought of as my ritual, and explore what works, what has shifted, and how to create what’s missing.

First, though: why do I need a ritual? What even is that? What use is one to an artist? And why have I never asked myself these questions before?

Religion has been a deep part of my life from birth, one way or another. Both religious traditions I’m connected to are ritual-heavy.* It’s the very thing about them that keeps them grounded, and has kept me coming back for their wisdom. Done well and with love and for a right purpose, rituals help us celebrate and live into what is most important, particularly in the everyday.

You know how sometimes you know you look a certain way — you have blond hair, for example, always have — and then one day you look in the mirror and realize your hair is brown? It’s been brown for months, maybe years, and you never noticed the shift. I wonder if I’ve been coasting in a similar way on my self-image as a “ritual person.” I “know” this is a part of me, and my writing is a crucial part of me, so perhaps I’ve only assumed that ritual plays a part in my writing.

So. A ritual is a set of physical actions performed in a particular order, using (maybe) one or more tools. It functions as a signal, defining, in this case, a mental space which the writer commits to her practice. It helps push aside distractions, settle the mind, and offer reassurance to your imposter syndrome that you, and your art, are worth regular energy and time.

In my experience, rituals work best when you do them regularly. Like anything else, they get stronger with practice. And those times life gets in the way, pleasantly or otherwise, so that you don’t write for a few days? That’s when they really come in handy. They bring you back.

My own supposed ritual has those three components I mentioned earlier. I haven’t asked myself how they function. I’m asking now.

The QWERTY represents the only attention I manage consistently to pay to my father’s maxim of “having the right tool for the job.” I can use a keyboard — specifically this common, adorably named configuration — with the same unconscious ease that shapes a thought in my native tongue. I also use it quickly; it lets my fingers keep so nearly up with my thoughts that I’m rarely frustrated by the lag time. And I can use it by touch, allowing to me look out the window, rest my eyes, sometimes even daydream while still in the flow of composing. So it’s my exact right tool for translating prose to page. And it does just fine for revising — though not composing — poetry.**

The Appointment is critical. It comes from the best piece of writing advice I have yet to receive: show up for the same kind of work at the same time every day. Mary Oliver said it, Nicole wrote it; a little less than a year ago, I finally got the memo.

To really nail this one, you need to know what time of day and under what physical circumstances your mind is most interested and agile, and also most willing to be solitary. Clock-time doesn’t mean much to me, though your mileage may vary. I tune instead to light levels and body rhythms, so my writing appointments begin in the liminal space between night and day, outdoors and indoors, walking and settling. Which brings us to The Owls.

Walking, several miles at a time for pleasure, is so much a part of my life that it’s also part of my identity. So there’s a physical circumstance that meets the above criteria. Walking in the very early mornings, before the dawn and sometimes accompanying its unfolding, is a practice I began as a way to access exercise and fresher air in the over-heated, smoke-choked summers that have become the new normal here in the Pacific Northwest. It’s pure serendipity that I began to do this immediately before my high tide of solitary mental engagement: the first few hours of daylight.

The place I came to favor for these early walks mixes forest and field, wetland and hedge, and it’s less fragmented than most of what passes for “the outdoors” where I live. It’s perfect habitat for barn and great horned owls. Realizing this, and keeping my eyes and ears alert, is all it took for the owls to find me first.

Great horneds are not too talkative in the summer, and their flight is silent, but catch half-sight of one crossing a waxing moon, and you’ll look for them ever after. Barn owls get described as “ghostly,” and indeed they seem this way, in pre-dawn not-quite-light, as you stop in your tracks and try to follow the dipping, fluttering hunt, low to the grass. Your eyesight will fail you; this is not a human hour. From the vagueness comes a sound like a waterlogged zipper, then pale maybe-wings tilting sharply to dodge your confused and clod-bound presence. Then a long cry, soft and terrifying — scraaaaiiil! — and if you didn’t know yet the presence of Mystery, now you are beyond invited — you’re impelled.

After the first encounters, I had to do the work. Owl-listening became something between a habit and a passion. Besides how to find owls (in my particular place), it reminded me how to walk in my surroundings, not merely on them; how to be, as Thoreau said, entirely present “in the woods,” thinking of the woods and not of things outside them. How to meditate, in fact.

And meditation is very good for writing. The regular practice of emptying your mind, then allowing just your immediate experience to fill it, singly and slowly, like dropping pebbles in a pool, both stokes and soothes that restlessness from which you shape the writing you know for truth.

There are about a hundred ways to meditate; mine is to dress in quiet colors and go out to meet the darkness. Before I can completely see the earth and sky, I have to reach for them, feel for them, listen. I enter a state that is set apart, reserved out of regular time for something Other.

So this is a pretty solid ritual, right? Five days a week, rise in darkness to walk a couple of miles with full attention on the natural world and your own internal state. Come home around dawn, at the beginning of peak creative hours, and settle to your practiced partnership with the tool best suited to help you spin experience, emotion, and thought into words on a page.

Here’s the wrench I didn’t know I’d left in the gears, though. I didn’t start meditating by happy accident, and I didn’t start doing it as a way to shape space for my writing. I did it specifically to control my anxiety. There was a synchronicity involved: I discovered that walking with attention was just as good as say, sitting in your bathtub for 20 minutes with the lights off, thinking of nothing in particular. And then I happily combined meditating into my pre-writing walks and thought no more about it.

When I subsequently went back to therapy and (yes, I know this is a big claim, and it’s true) got rid of my general anxiety, the first component of what I had imagined to be my writing ritual sort of… shook itself loose.

I used to return from my pre-dawn forays absolutely itching to meet up with my keyboard. I didn’t always know what I wanted to say until my fingers touched down, but I was that perfect combination of emotionally settled and creatively provoked.

Lately I leave the fields feeling unsettled and unfinished. I still want to write, but I don’t settle to it. The currents that used to push me straight there are shifting, and I’m occupied trying to watch and understand.

My owl-time itself is almost speaking to me about this, insisting it is actually a different sort of ritual, about identity and inner quiet and connection. It used to be a tool, and it wants to be, instead, a deep well and a refuge. I think the direction it’s ultimately pulling me is toward a spiritual practice.

My religious identity is complicated, and I’m so confused about praying I’ve been known to conflate it with my writing practice. So what kind of spiritual practice my owl-walks or their successors want to be is an open question I will take my time and invite all my patience to live into. Meanwhile, there’s this other opportunity: I need a new writing ritual. How do I find that?


Here’s what I know: there is a compass inside me. It pointed toward owl-walking, it pointed toward therapy, and as of the morning I sat down, fresh from the fields, to write this piece, it spun around and pointed clear off the established map.

I’m not sure what’s over there yet. Ever play one of those role-playing video games where the map is covered in fog that dissipates only as you walk right into it? I’m well-practiced at walking into literal fog and darkness; I am totally up for this metaphorical challenge.

So. Watching for the path forward, what else do I know?

I know the QWERTY and the appointment and the timing of that appointment are elements I want in my creative practice. In the not-quite-one-year I’ve set my intention to partner with them, they’ve powered seven drafts of two manuscripts, uncountable new compositions, and 155 single essay and poem submissions. Even when I was too sick to owl-walk, or I couldn’t meditate, or my mind refused me the right words, they helped me deliver.

I also know how to look for owls. It’s a knowing I was graced with at first, and then had to learn in order to continue to succeed. So I know I can learn to follow my compass when it points somewhere I don’t yet understand.

Intuition: that’s probably what this is. I used to believe I didn’t have any. Great at introspection, I never knew where to take what I had learned. My compass has constructed itself over the years through wildly varied efforts to figure that out: psychological study, prayer, meditation, acquiring a contemplative practice, reading tarot. And also just experience. I might be figuring out that the secret isn’t actually knowing. It’s trust.

So I don’t know how my writing ritual will re-shape.*** Nor, since this shift is so much larger than one area of my life, how my spiritual practice will coalesce. Nor how to reckon with whatever else I am without the anxiety I carried for so long.

But I am learning to trust myself to ride the upwelling currents. My compass has let me know when the course is changing; my job is to keep my eye on its dance, and follow. In itself, this trust is more valuable than any specific rituals that result. It is their source, and maybe my access to much that is deep and worthwhile within me. I am so grateful, finally, to have found it.

*I was born, baptized into, and participate today in the Lutheran Church. Some other important connections I discovered in early adulthood, via a moderately traditional version of Wicca. I suppose they do seem quite disparate, on the face of things.

**Poetry, in my experience, happens everywhere except at the neat-and-tidy keyboard, and often inconveniently. It’s the unruly friend you love being around — if she would only stop inviting herself over without notice. (At least she brings wine.) If I specifically want to be the one doing the inviting, I go for a walk and I pay attention. That’s it. Poetry is about rhythm, and so is walking; it’s basic sympathetic magic.

***I do certainly keep trying new ideas. But so far when I reach for one, my compass just wobbles. It’s an encouraging wobble, if that makes sense, but it’s not a Heck Yes. The closest we’ve come is lighting the fire and just staring at the flames until it feels right to pull away. My otherwise well-behaved tuxedo cat, d’Artagnan, takes this as an invitation to shout about how much he has missed me on my walk, and how I should settle in our chair now so he can snuggle. So this may not, in fact, be the best way forward.

The Work You Do While You’re Waiting

So after getting really excited about Andrew Yang’s presidential campaign (and his plan to give every American a $1,000/month Freedom Dividend, plus Medicare for All) I began picturing the future.

I saw myself going to Yang Gang meetings in Cedar Rapids.

Attending the Iowa Caucus, which I’ve never done before.*

Standing in a room filled with balloons and pizza boxes and all the friends I’d made along the way, watching election returns.

But it’s going to be a long time before any of that happens, if it even ends up happening. The Iowa Caucus isn’t until February 3, 2020. A year from now.

A year from now, I might be sending advance copies of NEXT BOOK to industry reviewers. I’ll be one year closer to my goal of being financially independent by 47.** I’ll have been part of at least three and maybe four Chorale Midwest concerts, including our upcoming performance of the Brahms Requiem with Orchestra Iowa. I’ll have taught more classes and written more articles and connected with more people and done many of the things I’m currently hoping I can accomplish.

And my mind has given me pictures of what all of this could look like, down to what I’m wearing and how long my hair might be.***

But if there’s one thing I’ve learned, it’s that generating a highly detailed mental image of the future you want for yourself actually eliminates that future from the realm of possibility.

Every conversation you rehearse in your head is a conversation that will never take place as rehearsed

You’ve had those conversations in your head, right? You imagine yourself saying something, and then you imagine someone else saying something, and so on?

At some point — and I don’t know exactly how I put this together — I realized that every conversation I imagined was a conversation that would never take place in the real world.

Because people aren’t ever going to follow the script I wrote in my head.

So every time I imagined a conversation where I set a boundary and then someone else got really angry with me (for example), I reminded myself that by generating the conversation in my brain, I had pretty much guaranteed that it wouldn’t happen in real life.

This isn’t to say that the other person might not be upset or disappointed with the boundary I set. But they probably wouldn’t react at the level I had imagined, and they definitely wouldn’t use the exact words I had written for them.

Likewise, I might in fact end up wearing a Yang 2020 T-shirt to an election party, but the party will never look exactly like the one I’m currently dreaming.

Nor will NEXT BOOK look exactly the way it did when I first thought it up. I can follow the plot structure I outlined for myself, and build an emotional journey for the reader that’s similar to the one I had when I told myself the story I wanted to tell, but it will still be a different book than the one I initially imagined, because exposing something to the world always changes it.

(This is why so many stories include antagonistic forces — parents, governments, societies — that try to prevent people from learning about the world.)

You can’t have the future you imagine, but you can work towards the future you want

So. Creating some mental image of my sitting at a table with a stack of NEXT BOOK next to me, ready to sign copies for a queue of readers, does in fact guarantee that this particular scenario will never happen.

But it doesn’t prevent a similar scenario from happening.

It doesn’t prevent me from doing the part of the work that might someday get me to that table with that stack of books, e.g. spending one hour, Monday through Friday, working on my current draft.

And when that part of the work is done, turning that hour into editing-and-revisions time.

And, because that part of the work isn’t so far in the future that I have to imagine what it might be like, I can decide what it will be like. Right now. When it will happen and where I will sit and whether I’ll turn my phone and email off while I work.

Likewise, I can decide that today I’m going to do my bit for Yang 2020 by sharing the link to Andrew Yang’s Reddit AMA (which will take place at 2:30 Eastern today, go ask him anything), and I’m also going to share a fun article with my mom on Facebook, and tomorrow I’m going to ask my sister and nephew if they want to do a FaceTime call this weekend.****

HERE’S WHERE IT GETS REALLY INTERESTING

This method works for the bad stuff as well as the good stuff. That terrible scenario you imagine happening to your job or your loved ones or your small business? Those hours/days/weeks you spend waiting to hear back from doctors or lawyers or potential employers? Here’s what I’ve learned:

  • Whatever horrible thing you just imagined will never happen. Or, at least, not in exactly that way. No, it won’t happen in the slightly different other way you imagined either. It might still be stressful and difficult and complicated and a lot of work, but it won’t be whatever you just visualized. It can’t be.
  • You can still do small things, every day, to get yourself closer to the experiences you want to have right now — the tasks you want to prioritize, the connections you want to strengthen, the time you want to take to care for yourself, etc. — and those experiences will help you deal with the hours/days/weeks ahead.

I’ve found this to be one of the truest things about life I’ve ever learned. The balance of what you can’t control and what you can.

So that’s what I’m thinking about this morning, mostly because last night I was thinking about how long it was between now and next year, and how I didn’t want to have to wait for what I wanted.

Then I reminded myself that I didn’t have to wait to write another 1,000 words of my draft, or pitch another client, or send my mom something nice on Facebook, or any of the stuff that I thought I wanted in the future but actually wanted — and could go after — right now. ❤️

*I grew up in the Midwest (before leaving to bounce from one coastal city to another and then decide to move back), but I did not grow up in Iowa. My hometown is actually in rural Missouri, a two-hour drive from where I live now.

**My current projections indicate it’s more likely I’ll hit financial independence — aka “the point at which I can live off my investments” — by 50, but that’s just incentivizing me to try to beat that target.

***I’m growing out a pixie cut. “How long my hair might be” is a relevant concern.

****Why not do all of this stuff today? Because you can’t do everything today. Nobody can.

In Which I Learn About Andrew Yang’s Presidential Campaign and GET VERY EXCITED

I have never been a hugely politically active person. I vote, even in local elections, and I take the time to research the candidates and their positions before voting, which probably makes me more politically active than most — but I view our current political system through a somewhat skeptical lens and because of that have hesitated to get emotionally involved.

But I had downloaded a few episodes of the Ezra Klein Show to listen to as I did laps at the YMCA (you might remember my referencing the episode where N.K. Jemisin discussed worldbuilding), and one of them was this episode from August titled “Is our economy totally screwed? Andrew Yang and I debate,” and about halfway through the episode Andrew Yang mentions that he’s running for president.

On a platform of universal basic income (renamed “Freedom Dividends,” after Yang did some market testing to see which name would appeal to conservatives) and Medicare for All.

I have now gotten emotionally involved.

If you’re currently thinking “who is Andrew Yang and what is his deal,” which is where I was 48 hours ago, the shortest version is that Andrew Yang is an entrepreneur and nonprofit CEO who has done some serious thinking about the mathematics and logistics required to keep America’s economy going as we transition into a world with more automation and fewer jobs.

It’s the math-and-logistics part that made me decide to do anything I could to support Yang’s candidacy, starting by spreading the word on my blog.

I mean, this whole thing is extremely relevant to the core mission of Nicole Dieker Dot Com, not to mention the core mission of Nicole Dieker, the Human Person. Andrew Yang’s vision, which includes giving every American adult a Freedom Dividend of $1,000 every month, plus Medicare for All, plus social credits (backed by the government and redeemable at various retailers) for those of us who want to spend our time on non-market-based work like caring for others and community-building, will help us all get so much closer to THE WORK we want to do and THE LIFE we want to live.

So.

Here’s what you need to do next: go listen to and/or read the transcript of this Freakonomics podcast episode, in which Andrew Yang explains his plan to Stephen Dubner. With all due respect to Ezra Klein, the Freakonomics podcast offers a much better introduction to Yang (you’ll learn about his love of Dungeons and Dragons, as well as his brief stint selling Cutco knives) and an extremely detailed summary of how Yang plans to put his ideas into action:

YANG: So the headline cost of this is $2.4 trillion, which sounds like an awful lot. For reference, the economy is $19 trillion, up $4 trillion in the last 10 years. And the federal budget is $4 trillion. So $2.4 trillion seems like an awfully big slug of money. But if you break it down, the first big thing is to implement a value-added tax, which would harvest the gains from artificial intelligence and big data from the big tech companies that are going to benefit from it the most.

So we have to look at what’s happening big-picture, where who are going to be the winners from A.I. and big data and self-driving cars and trucks? It’s going to be the trillion-dollar tech companies. Amazon, Apple, Google. So the big trap we’re in right now is that as these technologies take off, the public will see very little in the way of new tax gains from it. Because if you look at these big tech companies — Amazon’s trick is to say, “Didn’t make any money this quarter, no taxes necessary.” Google’s trick is to say, “It all went through Ireland, nothing to see here.” Even as these companies and the new technologies soak up more and more value and more and more work, the public is going to go into increasing distress.

So what we need to do is we need to join every other industrialized country in the world and pass a value-added tax which would give the public a slice, a sliver of every Amazon transaction, every Google search. And because our economy is so vast now at $19 trillion, a value-added tax at even half the European level would generate about $800 billion in value.

Now, the second source of money is that right now we spend almost $800 billion on welfare programs. And many people are receiving more than $1,000 in current benefits. So, we’re going to leave all the programs alone. But if you think $1,000 cash would be better than what you’re currently receiving, then you can opt in and your current benefits disappear. So that reduces the cost of the freedom dividend by between $500 and $600 billion.

The great parts are the third and fourth part. So if you put $1,000 a month into the hands of American adults who — right now, 57 percent of Americans can’t pay an unexpected $500 bill — they’re going to spend that $1,000 in their community on car repairs, tutoring for their kids, the occasional night out. It’s going to go directly into the consumer economy. If you grow the consumer economy by 12 percent, we get $500 billion in new tax revenue.

And then the last $500 billion or so we get through a combination of cost savings on incarceration, homelessness services, health care. Because right now we’re spending about $1 trillion on people showing up in emergency rooms and hitting our institutions. So we have to do what good companies do, which is invest in our people.

Then you’ll want to visit the Yang 2020 website and check out the policies section. He’s got goals and guiding principles for everything from combating climate change to making taxes fun.

To quote the Iowa Democratic Party Leadership: “Mr. Yang has three Big Policy Ideas — Universal Basic Income, Medicare for All, and Human Capitalism — all supported by the most comprehensive and detailed set of policy proposals we have ever seen at this stage of a campaign.”

(Go find out more about the Human Capitalism thing here.)

Lastly — and I can’t believe I’m ending this with a sales pitch, but that’s politics — you could consider giving Andrew Yang a dollar. Or more dollars, but the amount you give isn’t the important part right now. Because of the way the Democratic Party runs its show, Andrew Yang needs 65,000 individual campaign donations by May 15 to be able to participate in the upcoming Democratic candidate debates.

As of this writing, he’s at 33,675.

I’m going to support Yang 2020 for as far as it goes — I’ve joined my local Yang Gang, I’m going to the breakfast with Andrew Yang in Cedar Rapids, I might even do some phone banking — and even if it doesn’t end up in the White House, Andrew Yang has a plan for that, too.

The part of me that is still cynical about politics wants to know how Yang plans to deal with Congress, roughly half of which is incentivized to prevent him from achieving his goals. But the part of me that wants to take up my bow and arrows and follow this person I just met in a tavern and go fight some dragons with MATH AND LOGISTICS is… well, I can’t believe how much I wanted something like this until it became a possibility. ❤️

Cal Newport’s ‘So Good They Can’t Ignore You’ Is a Must-Read Guide to Building a Creative Career

I’ve mentioned Cal Newport on this blog before. I started implementing his daily shutdown ritual after reading Deep Work: Rules for Focused Success in a Distracted World, for example, and it has made my workday (and my evenings) so much better.

But last week I read his 2012 book So Good They Can’t Ignore You: Why Skills Trump Passion in the Quest for Work You Love, and I am ready to GET EXCITED ABOUT IT.

Here’s the tl;dr, though I really really really think you should r:

If you want to build a fulfilling career, you need to develop both marketable skills and career capital. Being passionate about a particular line of work isn’t enough.

This is kind of the tension at the core of Nicole Dieker Dot Com, btw — like, I’m writing about being vulnerable online and mushing through the draft of NEXT BOOK while also being fairly hard-headed about how this type of career takes schedules and strategies and showing up every day.

Or, as I put it in one of my very first posts: there’s a difference between “the dream” and “the work of doing your work.”

So Good They Can’t Ignore You is about pushing through that difference, and going from the work of doing your work to building a dream career.

It’s worth noting that this “dream career” may not be related to your current creative passion; that is, the end game isn’t “full-time novelist” or “full-time singer-songwriter” or whatever. The end game is to develop a career that capitalizes on your skills, lets you control your time, and helps you create the life you want, which may also include writing novels or making music or working on political campaigns or traveling for three months every year.*

I can hear you thinking “but there aren’t enough of those careers to go around,” which, okay, sure, but Newport makes two additional points:

  • With enough skills and career capital, you can build your own career. (This is what I did.)
  • With enough skills and career capital, you can work to make the world better for everyone else.

To quote Chapter 13, Missions Require Capital:

Pardis Sabeti thought small by focusing patiently for years on a narrow niche (the genetics of diseases in Africa) but then acting big once she acquired enough capital to identify a mission (using computational genetics to help understand and fight ancient diseases). Sarah and Jane, by contrast, reversed this order. They started by thinking big, looking for a world-changing mission, but without capital they could only match this big thinking with small, ineffectual acts.

Go read this book. You might not agree with everything Newport writes, but I bet at least one or two chapters will make you think differently about your creative career.

It did for me, anyway, and I’ve been doing this for seven years now.

Next Tuesday I’m going to review a book that’s more about the emotional and vulnerable aspects of building a life. In case you’re curious. It’s all about balance, after all.

*Yes, you can go straight into trying to become “so good they can’t ignore you” at your current artistic pursuit or passion project. The book has some notes on that path as well — after all, the “so good they can’t ignore you” quote came directly from Steve Martin. But that path might be a lot harder than the one where you use your monetizable skills to build the type of capital that can help you achieve your large-scale goals.

The Art and the Finances of a Creative Career

This weekend I not only took a new profile photo — which aged me three years in an instant, I tell you — but also finally narrowed down what I want Nicole Dieker Dot Com to be about:

Daily posts on the art and the finances of a creative career.

You might remember that I originally called this space a Creative Practice Club, but that never quite felt right (which is one of the reasons I did not purchase the domain name CreativePractice.club, even though I could have).

The creative practice is part of it — specifically, figuring out how to do THE WORK you want to do while living THE LIFE you want to live.

But the creative career is the part that gets you THE MONEY.

And most of us need THE MONEY to fund THE WORK and THE LIFE.

So I’m going to include some posts about where my money comes from, and how I spend and invest it — and if you’re coming from The Billfold, you’re already familiar with this because I’ve been writing those kinds of personal finance posts for five years.*

If you’re interested in building the type of creative career that I currently have, where I earn money from freelancing and teaching and publishing and editing and all of it feels like THE WORK I want to do and THE LIFE I want to live, you’re in the right place.**

If you’re interested in building the type of creative career that’s unrelated to THE WORK you want to do but provides THE MONEY and THE LIFE you need to complete THE WORK, you’re also in the right place.

Because the thing about a creative career is that you get to create it.

So… welcome. ❤️

*Technically seven years, since I originally began writing about my finances on Tumblr in 2012.

**If you’ve read The Biographies of Ordinary People, you’re probably familiar with the scene where the Tinder date asks Meredith if she writes anything “for herself” and Meredith says “it’s all for me.” That’s how I feel. I don’t want to just write novels or whatever. I want to write personal finance posts for Bankrate and lifehacking posts for Lifehacker and help people learn new things. I love teaching, I love connecting people and ideas, I love all the work I do, and it’s all for me. It’s also all for you.

THE WORK, THE LIFE, and THE MONEY

Yesterday I asked whether “does it make money” should be a factor in determining a creative work’s success.

This, by the way, is one of the oldest questions in the book, we were debating it back in grad school, but in grad school we were also all on food stamps because that was literally part of the orientation process.*

Since then, I have had varying levels of income — specifically, two periods of earning at or above the median income in the United States, separated by a few years during which I earned significantly below the median income — and I’ve become less interested in the philosophical question of whether creative work should make money then the practical question of how to earn money from your creative work.

Here’s what I have come to believe:

  1. The big creative work you want to do with your life — aka THE WORK — should include a money-making component.
  2. THE WORK might not earn enough money to be your sole source of income. (If it is, congratulations!)
  3. You will probably need to do additional types of work to fund THE LIFE you want to live. If possible, choose work that complements and/or supports both THE LIFE you want and THE WORK you want to do.
  4. A successful piece of WORK should, at minimum, earn back the cost of producing the WORK. This cost may or may not include your time.

None of these foundational beliefs address the question of how to earn money from your creative work — we’ll get to that, probably next week — but, at least for me, they set up a framework through which I can structure THE WORK, THE LIFE, and THE MONEY while simultaneously evaluating the success of all of the above.

This brings me to Grant Sabatier’s new book Financial Freedom: A Proven Path to All the Money You Will Ever Need.

Sabatier wrote this book as a sort of unofficial sequel to my very favorite personal-finance book ever, Vicki Robin and Joe Dominguez’s Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence. (Vicki Robin wrote the foreword to Financial Freedom, making it an official unofficial sequel?)

Your Money or Your Life teaches you how to interact with money; how to calculate your true hourly wage and identify jobs that give you the most value for your time, how to avoid blowing your cash on impulse buys and poorly-thought-out purchases, and how to save and invest for the future.

Financial Freedom teaches you how to earn more.

Financial Freedom also provides an updated guide to the whole saving-and-investing thing. The original edition of Your Money or Your Life was all about savings account interest and U.S. Treasury Bonds (both of which are no longer performing at a rate that can lead a person towards long-term financial security), and Financial Freedom focuses on newer strategies such as index funds and Roth IRA conversions.

If that’s not where you are in your financial journey, you can skip that part.

But I would argue that every creative person should read both Your Money and Your Life and Financial Freedom, if only because these books will cement the connection between THE WORK, THE LIFE, and THE MONEY.

If your job is not giving you enough time and/or money to live THE LIFE and do THE WORK, these books will help you find and/or create a better job, preferably one with a higher true hourly wage.**

If THE LIFE you want to live does not match the life you are currently living, and especially if you are spending extra money because you are dissatisfied with your life, these books will show you how to shift your habits and your spending to get you closer to THE LIFE you want.***

If you want to go all Marie Kondo on your everyday expenses and ask yourself “do I really want to spend $780 every year maintaining my pixie cut or do I want to invest that money and turn it into three months of financial freedom,” well… guess what, I started growing my hair out.

(Financial freedom, by the way, translates to “the amount of time you can live comfortably without earning another dollar.” You can stack up your months of financial freedom to provide security for the future, or cash them in for a big purchase such as a house or a sabbatical or an indie-published book.)

Most importantly, if you want to figure out how to turn THE WORK into THE MONEY-MAKING WORK, Financial Freedom has several excellent suggestions.

That’s all for today. Next week we’ll continue discussing how to make money on your creative work, so… see y’all on Monday. ❤️

*The orientation, which was student-led, consisted of two components: don’t sleep with the undergrads and here’s how to get on food stamps.

**I know jobs don’t grow on job trees and getting a new job is not always easy. But if you are going to do the work of job-hunting, it’s worth knowing what kind of job you’re hunting for.

***I can hear you saying “I don’t earn enough money to change any of my spending habits,” which, believe me, I’ve been there. I first read Your Money or Your Life in 2004, when I was making $9 an hour working as a telemarketer. (That’s the equivalent of $12 an hour today, if you were curious.) I could make very few changes to my spending, but I started doing things like making peanut-butter-and-raisin sandwiches because a tub of raisins was cheaper than a thing of jam, and taking the bus during off-peak hours because it was less expensive, and finding a job that paid $13 an hour, and within nine months I had saved $500, which was NOT A LOT, but also proved that the system worked.