Self-Publishing

Thoughts & Sayings (April 2013)

Here are some thoughts and sayings I posted on Twitter and/or Facebook in March. To my knowledge, I made these up (for better or for worse). Sit back, relax, and enjoy the write!

Encouraging Words

1. I aim to confuse so you don’t have to.

2. A smile is what happens when something inside comes out.

3. Exercising your mind is better than food for thought.

4. When brilliance strikes, fight back.

Twisted Words

5. Cleaning windows is such a pane, but I want them to look smashing.

6. I’m always getting into travel on the road.

In Its Own Write

7. Wouldn’t it be nice if someone wrote fill-in-the-blank stories we could buy and turn into our own books?

8. Twice upon a time, there was a story and a knock-off.

Holidays & Events

9. I filled out my brackets for March Madness. The Vatican Conclave is my top seed with the North Korea Nukes as potential spoiler. The Venezuela Chavistas should go far with Nicolas Maduro at center while the Washington Sequesters could bow out early.

10. I’m happy to be Irish for a pot of gold. Okay then, how about a pint?

11. Ides don’t know what Ides gonna do on March 15.

12. Happy International Women’s Day! Enjoy your day off.

13. Happy Sequester Day. Where are you hiding?

Random Musings

14. Wouldn’t it be nice if advertisements featured what we wanted to buy rather than something to be sold?

15. I’m like an onion. Peel away some layers and I’ll make you cry.

Click here to visit the Thoughts & Sayings page, or click here to read the previous batch of Thoughts & Sayings.

M.G. Edwards is a writer of books and stories in the mystery, thriller and science fiction-fantasy genres. He also writes travel adventures. He is author of Kilimanjaro: One Man’s Quest to Go Over the Hill, a non-fiction account of his attempt to summit Mount Kilimanjaro, Africa’s highest mountain, and a short story collection called Real Dreams: Thirty Years of Short Stories. He also wrote and illustrated Alexander the Salamander and Ellie the Elephant, two books in the World Adventurers for Kids Series. His books are available in e-book and print from Amazon.com and other booksellers. Edwards graduated from the University of Washington with a master’s degree in China Studies and a Master of Business Administration. He lives in Bangkok, Thailand with his wife Jing and son Alex.

For more books or stories by M.G. Edwards, visit his web site at www.mgedwards.com or his blog, World Adventurers. Contact him at me@mgedwards.com, on Facebook, on Google+, or @m_g_edwards on Twitter.

Use Your Wikipedia Donation to Support Indie Authors

Online encyclopedia Wikipedia has begun its annual pitch for donations to continue operating as an independent, non-profit information resource. Founder Jimmy Wales will once again ask those who visit the website to donate “to protect and sustain Wikipedia.” This year, I encourage you to put this donation to a better use. Please use the money to buy books published by independent (indie) authors.

Wikipedia is biased against indie authors it considers “non-notable” unless their works are cited by “credible” sources. In general, it prefers traditional media and does not recognize citations from social media sites, blogs, writers’ networks, self-publishing websites, or indie awards. Unless you are noted by select information resources, you’re out of luck receiving recognition from Wikipedia.

Wikipedia also strongly discourages autobiographies. It prefers second- and third-hand sources, which it considers more accurate and objective than first-hand accounts, even though such sources may be biased. Whether the biographer has an ulterior motive or a conflict of interest is irrelevant. Wikipedia assumes that its system to evaluate biases in its articles is sufficient, although its view on autobiographies suggests that it is not robust enough to root out misstatements, factual errors, or embellishments regardless of source.

If you are an author with a publicist who writes an article about you linked to a source Wikipedia that considers credible, then welcome to the club. If you’re a successful self-published indie author with an independent network, you’re out of luck. You and your books are not eligible to be included in Wikipedia. Don’t ask your friend to post your biography for you. Anonymous monitors who evaluate articles according to the site’s self-determined criteria will delete you.

Most self-published authors do not qualify for Wikipedia profiles. This does a disservice to the many hard-working, established writers who have chosen to self-publish. The rapidly expanding self-publishing industry operates differently than traditional publishing, and indie authors are more apt to promote each other through social media, writers’ circles, and independent networks than to wait for recognition from traditional media. Wikipedia’s rules are better suited to the pre-Internet and pre-social media eras. Rather than adapting to changes in the publishing industry, it simply chooses to exclude most indie authors.

This year, please support independent authors. The money saved from not donating to Wikipedia will buy some great books and recognize outstanding authors.

Here are three independent author communities with thousands of books to choose from:

Independent Author Network

Independent Author Index

World Literary Café

Thank you for your support.

The opinions expressed in this article represents solely the views of the author. Encyclopedia image courtesy of Microsoft; the indigo ribbon is public domain.

M.G. Edwards is a writer of books and stories in the mystery, thriller and science fiction-fantasy genres. He also writes travel adventures. He is author of Kilimanjaro: One Man’s Quest to Go Over the Hill, a non-fiction account of his attempt to summit Mount Kilimanjaro, Africa’s highest mountain, a collection of short stories called Real Dreams: Thirty Years of Short Stories and Alexander the Salamander, a children’s story set in the Amazon. His books are available to purchase as an e-book and in print from Amazon.com and other booksellers. He lives in Bangkok, Thailand with his wife Jing and son Alex.

Financial Indie: Startup Savings

“Financial Indie” is a series of articles designed to help writers finance their careers. If you have an investment question, please post it and I’ll try to incorporate it into a future article.

In my previous article, I discussed how writers can build a financial portfolio to support their careers. By planning ahead and investing wisely, writers can move away from living paycheck to paycheck toward financial independence.

Getting started is the hardest part of this exercise. Building a base on which to grow your investments takes some startup savings, which can be difficult for some writers to accumulate. The most obvious way to save money is to earn a salary, commissions, or contract fees from writing or a job. If your income is steady, set a target percentage to save each month and stick to it. Set a realistic goal that you can consistently meet. The more you can save up front to invest, the more you can earn in the long run.

If you don’t have a steady source of income, look for ways to save money without doing away with the basic essentials. Based on my experience living in both developed and developing countries on four continents, I’ve noticed that most people spend money on things that they don’t need. What can you live without that will help you save?

Housing, food, and transportation are three of the biggest expenses in most people’s budgets. If you’re spending a considerable amount of money on rent or a mortgage, is there a way to decrease what you pay? Can you move to a cheaper apartment? Can you sell your house or refinance your mortgage? Can you relocate someplace closer to where you work? While most people are hesitant to make changes that significantly impact their lives, short-term belt-tightening may be needed to get ahead in the long run.

Are you able to save $100 per month that you can use to build an investment portfolio? If not, make a list of your income and spending in an average month. Does your income exceed spending? If so, then you’re already saving. If not, look at ways to reduce spending. Can you decrease the amount you pay monthly for discretionary items such as dining out, tech gadgets, and entertainment? Can you decrease the amount of money you remit on utilities? If your monthly budget exceeds U.S.$1,000, you may be able to save $100 or more by cutting unnecessary expenses. If you earn less, then consider scaling back your savings target. A skipped meal at a restaurant, overpriced cup of coffee, using mass transit instead of driving, or switching to free social media to market your book can help you meet your savings goal.

After you save $100, what should you do with it? Don’t spend it! Invest it. In general, it’s best to save for retirement first to supplement your income once you stop working. You may receive a pension or social security when you retire, but in many countries such as the United States, you can set aside additional money tax-free for retirement. In the United States, pre-tax retirement accounts are known as traditional individual retirement accounts (IRAs), and after-tax accounts that are tax-free when you withdraw them after retirement are called Roth IRAs. Many companies offer retirement accounts known as 401(k)s that allow you to set pre-tax money aside for retirement. Consider these investment options first if they’re available where you live.

In addition, you may have other expenses such as healthcare or college tuition for your children. Many countries have programs that offer tax breaks to those who save for college or set aside money to pay healthcare bills. In the United States, 529 college savings plans, flexible spending accounts (FSAs), and health savings accounts (HSAs) offer tax benefits worth considering before building a liquid (taxable) portfolio to finance your writing career.

Assuming that you are able to save $100 per month for a liquid portfolio, think about your tolerance for risk. Do you like to gamble, save your money under a mattress, or are you somewhere in between? Consider your age and how long you have to grow your net worth. Are you close to retirement, when you’ll start to draw down your savings after you stop working, or do you have many years to investment? The answers will influence what kinds of investments you make.

Regardless of your age and income level, there are two important principles to remember when it comes to disciplined investing: 1) Purchase investments that maximize your gain, and 2) Diversify your investments to minimize your risk. Think about your own options keeping these principles in mind. In my next article, we’ll start looking at different ways to invest the $100 you’ve saved.

Disclaimer: I am an accredited private investor. I am not a certified financial planner or investment advisor. The information contained in these articles should not be considered professional investment advice. Use your own discretion when pursuing investment opportunities. For specific investment advice, consult an investment professional.

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