After you retire, you may find yourself with extra time on your hands and looking for something fulfilling to do. For example, retirement might be the perfect opportunity if you’ve always wanted to write a book. Here are five reasons why publishing a book can be the perfect activity for your retirement years.
Creative and Stimulating
Writing can be an incredibly creative outlet, and it will keep your mind active in a way that many other activities cannot. Writing also forces you to think critically and consider the underlying message of your story, which can help stimulate both sides of your brain. You’ll also be satisfied with seeing your work come alive—from concept to completion—as you turn it into a tangible item that people can enjoy.
Generate Income
After months, or even years, of writing, editing, and formatting your work; you will eventually reap the rewards when it’s published. The royalties from selling books can add up quickly if your book is popular enough; plus, if you decide to self-publish through Amazon’s Kindle Direct Publishing platform or similar sites, you’ll get 70% of each sale price as royalties (after Amazon takes its cut).
Connect With Others
If you choose to publish traditionally (via an established publisher) or even self-publish (via Amazon), there are plenty of opportunities for collaboration with other authors in the same genre as yours. In addition, you can network with other writers and participate in online events like virtual book signings or author Q&A sessions. This is a great way to make new friends who share similar interests while promoting your work simultaneously!
Become an Expert in Your Field
Writing a book allows you to become an authority on whatever topic it covers—this gives you instant credibility as an expert on that subject matter. This can open up many doors for speaking engagements and teaching opportunities. Writing a book will give readers insight into what kind of person you are and what type of experience they can expect from interacting with you.
Leave Something Behind
Finally, writing a book ensures that something about yourself lives beyond retirement age—a legacy, if we may call it! Writing gives people an insight into who we were before our bodies left this world; it allows us to immortalize ourselves through our stories and words long after we’re gone.
Challenges Retired Self-Publishers Have to Face
If writing has been something that has always been on your bucket list, but you never got around to doing it until now, retirement is a perfect time! Right now, self-publishing is the best way to leave your legacy. First, however, you must overcome some crucial problems that self-publishers face. Here are some of them.
Financial Cost
The first challenge is the financial cost of publishing a book. Self-publishing is expensive, and you will likely have to pay out of pocket for cover design, formatting, and marketing. For your first book, it may be best to seek the help of a mentor or ghostwriter so that you can publish on a budget while learning how the process works. Additionally, if you plan for retirement, you can use your retirement funds to solve this problem. Your funds can be helpful to pay for the printing and binding and to purchase the books in bulk. They can also help you with the expenses if you have a family.
Designing Your Book Cover
Once you’ve finished editing your work, it’s time to start designing a cover that will draw readers in and make them want to pick up your book! It’s estimated that over two million books are published annually. This can make it challenging for your book to stand out. However, the right cover design can make all the difference when grabbing people’s attention, so research different styles before settling on yours. Many online resources are available with helpful tips on designing compelling book covers too!
Setting Pricing & Distribution Strategies
The last challenge for self-publishers involves setting pricing strategies and figuring out how they want their books distributed, whether through retail stores, online retailers like Amazon, or both! Figuring out these details takes some trial and error and an understanding of what pricing strategies will be most effective for selling books in today’s market but know that books cost around $13 to $18. So make sure to price those books accordingly. Make sure you research distribution because how you distribute and price your books dramatically influences the likelihood of it being successful.
Self-publishing is one of the best things you can do once you’ve retired. This is a great way to leave a legacy and gain new friends. To make the most of your self-publishing journey, consider these challenges and how you can overcome them!
