The November 8 US elections will see a new president and Barack Obama will bid goodbye to the White House. Having served two terms as the president of the United States, what's next for Obama is the big question. He has been in public office for nearly 20 years and like all former US presidents he will receive a pension of $203,700 per year. But there are so many other ways in which Obama could make millions of dollars each year.
Many former American presidents make big bucks by giving lectures at universities and corporate events around the globe. According to Fortune, Bill Clinton was apparently paid $225,000 for an appearance in February 2014.
The second option Obama has is writing an autobiography of his presidential years. Obama already has two books to his credit -- Dreams of My Father (1995) and The Audacity of Hope (2006). He reportedly made millions of dollars thanks to these memoirs. According to The New York Times, publishers state that political memoirs could bring in advances of between $25 million and $45 million. Bill Clinton reportedly received an advance of $10 million for his presidential memoirs, My Life.
Obama has always spoken about teaching and in case he decides to take up teaching law he has numerous college options. Columbia, Harvard and the University of Chicago are some obvious choices due to his earlier stints there as a student and professor respectively. Some of these colleges offer six-figure salaries and this could be tempting for the man who loves teaching law. In fact, he had told The New Yorker, "I love the law, intellectually. I love nutting out these problems, wrestling with these arguments. I love teaching. I miss the classroom and engaging with students."
What about his love for sports? Obama is a big fan of basketball and the NBA. In an interview with GQ, he had said, "I have fantasized about being able to put together a team and how much fun that would be. I think it'd be terrific." So he could end up picking up a stake in an NBA basketball team!
Last but not the least, both Obama and his wife Michelle love social activism. Though this not may pay as much, the couple might end up getting involved with initiatives that they believe in like My Brother's Keeper. But this may just be additional to their other roles.