Becoming the president of the United States is a life-changing transition – but one commonly asked question is how presidents make money after leaving office. A US president makes an annual salary of US$400,000 while serving. This is on top of being able to live in The White House for free, and having a separate budget for travel, entertainment and other expenses. But US presidents often make far more once they leave office. Here's how. Are Barack and Michelle Obama really worth US$135 million? Pensions As outlined by the Former Presidents Act, US presidents are entitled to a pension once they leave office. While the creation of the act was inspired by President Harry Truman’s life after the presidency, President Dwight Eisenhower was the first recipient of the pension, according to ThoughtCo. Congress sets the amount annually, and it’s currently at US$210,700 Former President Barack Obama, George W. Bush, Bill Clinton, and Jimmy Carter all receive this pension, which comes into effect at exactly 12pm on Inauguration Day. Public appearances As you might imagine, it’s not unusual for former presidents to do the rounds giving speeches and making other public appearances – and those appearances can come with a pretty hefty price tag. According to the most recent numbers available, President Obama was charging as much as US$400,000 for a speaking engagement in 2017. Former presidents Bill Clinton and George W. Bush have been known to charge up to US$200,00 and US$700,00 (after adjusting for inflation), respectively. The 16 richest American billionaires revealed – who gives the most back? Book deals There’s no feeling like finishing a book, and I’m proud of this one. In A Promised Land, I try to provide an honest accounting of my presidency, the forces we grapple with as a nation, and how we can heal our divisions and make democracy work for everybody. pic.twitter.com/T1QSZVDvOm — Barack Obama (@BarackObama) September 17, 2020 Writing a book after leaving office is a well-known part of the deal, and publishers pay a pretty penny for the rights to a presidential memoir. In 2017, Barack and Michelle Obama signed a joint book deal with Penguin Random House to the tune of over US$60 million, reported the Financial Times at the time. The former president had in fact already published two other books with Penguin Random House by then, including his memoir Dreams from My Father: A Story of Race and Inheritance . Becoming by Michelle Obama was released in early 2019, and Barack Obama’s new book A Promised Land will be available in November, according to Associated Press. Before the Obamas' book deals, the record was held by Bill Clinton, who got a respectable US$14 million for his post-presidency tome, according to Vox. It's worth noting that both book deals still rank in the top 10 book deals of all time. George W. Bush got around US$10 million for his memoir, according to Financial Times. Brand deals While brand sponsorships are normally reserved for celebrities, former political figures are starting to dip their toes in brand deals too. In 2018, Variety reported that the Obamas signed a deal with Netflix to produce content for the streaming giant. Most notably, that deal birthed both American Factory and Crip Camp , which garnered positive reviews: the former even won an Oscar. The strange histories of our favourite internet companies In 2019, Spotify announced their deal with Higher Ground Productions, including a nine-episode podcast hosted by Michelle Obama. The show has so far featured guests including Barack Obama, Conan O’Brien and her mother and brother. Also jumping in on the podcast bandwagon is Bill Clinton, who Forbes say signed a deal with iHeartMedia to produce a podcast due to premiere in 2021. This Clinton’s second podcast deal with the media company. Corporate boards and other honorary positions While it’s more common among members of Congress, former presidents have also been known to take positions on corporate boards or adopt other grandiose titles. In 2016, The Washington Post reported that former president Clinton had made US$18 million as an honorary chancellor for a for-profit school. And from 2002-2009, Clinton also served as an adviser to his friend and investor Ron Burkle. It's estimated he made over US$12 million while working with Burkle. Want more stories like this? Sign up here . Follow STYLE on Facebook , Instagram , YouTube and Twitter . This article originally appeared on Business Insider.