David Baldacci, 48, has just written his 18th thriller, First Family.

His first novel, Absolute Power, was made into a film in 1997 starring Clint Eastwood and Gene Hackman. His other books include Total Control, and The Simple Truth, which president Clinton selected as his favourite novel of 1999.

Baldacci was born in Virginia, where he lives with his wife, Michelle, and two teenage children. He gained a law degree from the University of Virginia and, before writing full-time, he practised law for nine years in Washington DC.

Did you think you would get to where you are?

Everybody dreams they will write a bestseller. I always felt that, if I just got a break, I could have a career like this.

I was always a writer, since elementary school. I had been writing short stories and simple dialogue pieces for 20 years, but without any success before I sold Absolute Power when I was 34.

For three years, I wrote six nights a week from 10pm until 2am, 469 pages. I felt like I had paid my dues. I’m a practical person and I know it would have taken nearly a miracle for this to happen – but it did.

When you realised that you were worth $1m, did you want to slow down?

I became an overnight millionaire when Time Warner accepted Absolute Power in November 1994. It paid me $2m for the US rights, the foreign sales were another $2m, and the movie rights $1m. As a lawyer, I was making $150,000 a year.

No, I did not slow down. I accelerated. I felt unleashed. It was the most liberating feeling.

What is the secret of your success?

A tremendous work ethic, and I love storytelling.
I don’t consider what I do as a job. When I spent 10 years working as a court lawyer, I never woke up and looked forward to my day. But I don’t regret being a lawyer. It has
definitely helped me with my writing.

What is your basic
business philosophy?

Work hard but enjoy what you do. Treat people fairly. The best deals I have made in the publishing world are those where everybody walked away happy. You can pinch for the last dime in a deal but people are going to remember that.

Do you want to carry
on until you drop?

I will write until I cannot write any longer. I have no plans to retire. My mind is on full alert for new ideas even when I’m on holiday.

Have you had time for personal financial planning?

We have a certified professional accountant, who does our tax returns, which are the size of the phone book. My wife is half owner of the business. We couldn’t do this work ourselves. He does the accounting but he has no access to funds. We have a team of advisers. I am micromanaging them and they know it.

Many people who have a lot of money also spend more than they earn. I am not like that. I have no personal debt. If I never write another book, I could live comfortably off the interest of my investments. I never touch the principal.

What was your most prudent investment?

I would say our lake house in southern Virginia that I bought in 2000. It really is in the middle of nowhere, a good four hours away by road. The property is unique and has probably gone up by 200-300 per cent in value. It is now worth millions and has moorings for four boats, on a 40-mile long lake. The house has six bedrooms, seven bathrooms and a two-storey library.

When we viewed it and saw the library, it had a whole shelf devoted to my books. That was a strong point in its favour!

Have you made any
pension provision?

My wife and I have pensions through my company Columbus Rose, that I set up in 1995. Back then, it was just me and my wife. We took on our first employee in 2000. Now, we also have someone who runs our family foundation and an office manager.

Do you allow yourself
the odd indulgence?

Absolutely. For my wife’s 40th birthday, I leased a yacht in the Caribbean for a week and flew down six friends to join us. That was perfect. Last year, we rented a villa in Tuscany for a week and we are about to do the same this year in Provence.

Picasso or Art Deco
as an investment?

Besides some original paintings, I have a large collection of first edition books, including Huckleberry Finn, and 10 books by Arthur Conan Doyle. Most of these I acquire from Bauman Rare Books in New York. I get advice from several people at the Library of Congress, Washington. In one of my books, The Collectors, I kill the head of the rare books collection at the Library of Congress. I know this guy and he is very proud of it!

Have you taken steps to pass on your wealth?

We have intricate estate planning. As a lawyer, I understand how important that is. A lot of my wealth will go to charity.

In the US, if your estate is worth more than $2m, the inheritance tax bill can be as high as 55 per cent. You cannot completely circumvent it, but you can leave your money in trust. There is no tax on money you bequeath to charity.

Do you have a commitment to charity?

We have given away millions in support of multiple sclerosis, cystic fibrosis and literacy. Nearly five years ago, we founded the Wish You Well Foundation to aid literacy efforts across the US. We have funded reading programmes in more than 34 states. We also collect books across the country and redistribute them.

What is the most you have ever paid for a bottle of fine wine or champagne?

A few hundred dollars for a bottle of red wine in Per Se, on the fifth floor in the AOL Time Warner building, New York. The restaurant overlooks Central Park.

What advice would you
give to save money in the recession?

Cut out excessive consumption. You don’t need the latest gadget, and dine out less. Get your pleasure from things that don’t cost money, such as a walk in the park or reading a book.