Pumpkin Spice & Royalties

Tis’ the season to become wealthy. As our kids go “trick or treating,” why not fund all of those candy purchases with passive income from royalties? This is my first Halloween using the magic of royalties to assist me through life. I can say first hand it is a fantastic feeling always to have your creative products working for you. 

Today, I want to talk about my experience with royalties, my plan for the future, and finally, how you can get started on the fun. If you are new here, I love talking about passive income from royalties, automated businesses, dividends, and rents. 

I got started with royalties after reading the book “Rich Dad’s Guide to Investing.” The author (and my favorite writer), Robert Kiyosaki, asks a simple question: “How do you obtain assets without buying them?”

Retirement Planning for the Average Person 2

Of course, I didn’t know the answer. I actually stopped to ponder the question for about five minutes. It’s crazy to look back and think that I didn’t even know this basic information. Anyhow, the answer to the question is, “you create your own assets.”

This revelation blew my mind. You can create a business, books, blogs, music, videos, and artwork. From these works, you can receive payment in the form of royalties. 

So is it possible to create a revenue stream with little or no money? Absolutely! The only caveat is that your work has to be good enough for someone to purchase. It takes 10,000 hours to become proficient at something, so it’ll take that long to produce excellent content. 10,000 hours is 5.5 years (at five hours a day working on your skillset).

My story with royalties. After finishing “Rich Dad’s Guide to Investing,” I was hungry to get started with royalties. I did not like the idea of YouTube, and I am not musically inclined, so the option I chose was writing. 

I released my first book on Amazon in January 2021—roughly ten months ago. Today, I have 220+ books on Amazon, intending to reach 1000+ before I start marketing them. 

Why You Should Learn Creativity & Design

Why do I have so many books? In today’s world, more (good) content is better than less. People’s attention span is very short, so the majority of my books are 50 pages or less. My goal is for everyone to at least be attracted to one of my book covers. 

So I come up with different ways to say the same thing. Passive income is an easy topic to discuss—who doesn’t want more money in their pocket? The issue comes with the fact that passive income takes a lot of time to build and hard work. 

So I choose to write every single day. As I write, I reference one of the 600+ articles I have written this year. By the time I finish my article, I have a book with all the associated content. It’s an excellent workflow, and I enjoy writing and creating more than anything else I could be doing in my free time. 

What if you have no skills? You have skills; everyone does. Do you like to create costumes, decorate your home for Halloween, or host parties? Those are all themes or niches that you can talk about in your content. 

Don’t Gamble with Your Retirement 4

Your content is not about having specific skills. Becoming a content creator is about having the longevity, mindset, and willpower to produce content daily. Yes, I am a huge fan of producing content every single day. 

You will require some skills to get your content to your audience. For example, I had to improve my writing skills. Then I had to build my ability to create article artwork. Finally, I had to learn how to design book covers and write book descriptions (a form of advertising). 

Make no mistake; it won’t be easy. If you want to have a stream of royalties coming to your account by next Halloween, you better get started today. The faster you start, the quicker you discover your true purpose.

When I started my blog, I was just guessing—I had no idea what to write. Then I began to read and write my five takeaways from all of those books. As my knowledge began to compound, so did my content. Now, I have a stream of never-ending content that I can keep flowing throughout my lifetime.

You will need to prepare yourself for the long term. When you start royalties, prepare yourself to be in it for the rest of your life. If you decide to write, begin something you can write every day for your entire life. When you stop producing content, your back catalog slowly dies as well. 

What Limiting Beliefs Do You Have About Money?

I would love to say that you could create 1000+ books and never have to worry about them, but you have to stay “top of mind” in your business. I recently read an article from an author who said that 60% of his sales come from his back catalog, and 40% come from new content. 

In my short experience, I know these numbers to be accurate. I can see how it works right now. Today, my free books on Amazon are catching fire. This happens every once in a while. Usually, when I give away books, and they get about 40 downloads. I consider 80 downloads (over five days) to be very good.

However, if they hit one of the top charts, they can skyrocket. My top free book had 2,200 downloads in about three days. Today looks like it may be one of those days. My new book, “The Magic of House Hacking (book),” is off to 60+ downloads in three hours. 

However, my older book published eight months ago, “Happy Cash Flow Retirement 2,” is also gaining momentum with 60+ downloads. So, you can see, the new book has helped the older book. 

Living Overseas Passively 101: Introduction

The moral of the story is to keep publishing your content. As long as you are doing something you love, you won’t consider it work. I love writing, creating, designing, and building books and pdfs. I don’t consider this work or a job; it is a hobby that makes me money. I am willing to keep at it until the end.

Now, back to you. What do you love to do or research? Do you love hiking, purses, woodworking, diving, race cars, football, running, etc.? Anything and everything is available to you. 

I never took a day of college in my life. English was never my favorite subject 22 years ago in high school. Yet, here I am writing for a secondary profession. I never considered myself creative, but I look through people’s artwork every day and build covers and article artwork. 

If I can do it, you can do it as well. The main talents I have that most people don’t have is discipline and determination. I do not doubt in my mind that I can build my royalties up to $1,000/month in about three years. Most people don’t see that as worth the effort. 

The Business of Being Busy

However, it may be a lot of work upfront, but eventually, it will release a new book every week. The back catalog will start doing most of the heavy lifting. It takes time for your audience to gain trust in your words and believe that you will be there tomorrow for them. 

I would rather be at home writing and creating my work than working a job for the rest of my life. The question is, what do you want to do for the rest of your life? Also, don’t forget that your passive income from royalties is valuable to someone else as well. They may want to buy your work so that they can skip the passive income grind. 

Conclusion. When you take off your Halloween mask, who do you want to see in the mirror? An employee who owns nothing, or a creative entrepreneur who has a library of royalty-producing assets?

What better way to spend Halloween, the fall season, Thanksgiving, and Christmas than with family? If you genuinely want to have the most time with your family throughout your life, you’ll need to get away from your job. 

The Magic of an Automated Business

There are many ways to do this, including rental income, dividends, and an automated business, but royalties are also an excellent way because of the diversity of options. You can write, blog, create and build your audience in any niche that you can fathom. 

The hardest part is releasing your works into the world for your audience to like or dislike. Yes, it is intimidating, but you’ll soon realize that only about 3-5% of people will have the courage to release their creative works.

Therefore, their opinion is excellent, but you can take their advice with a grain of salt until they create what you created. You envision the future of spending Halloweens with your family and grandkids, and you are putting things in motion today to achieve this reality.

If you want to read more about royalties, start with this article and free book: “Retire Rich, Retire Comfortable with a Business 2 (free pdf).” You can follow me on Twitter for more free pdfs and also to see what free Kindle books I have for free. I try to have at least 2-4 books available every day. Enjoy, and thanks for reading. 

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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing