When you become a writer, you don’t know if you’ll end up a millionaire or a starving artist. The term “writer” is also very broad and encompasses a huge field of specialties. Freelance writers don’t have a ceiling to how much they can make, especially if they go after jobs in high-paying industries. There are plenty of staff writer positions out there that will pay writers in the ballpark of $50,000. Skilled freelancers know how to maximize their profits and make closer to $100,000.
Then, of course, there are the multimillionaire writers. There are millionaire first-time authors like J.K. Rowling and Hugh Howey. However, the majority of successful writers put all of their time into pumping out news books every month and are brilliant at marketing themselves. One great example of this is Stephen King. He never sits on his laurels, continues to pump out a new book every month, and is currently worth $400 million.