How does it feel to earn money while you sleep? Quite good, actually. Every night I sleep, my 1000+ books on Amazon go to work to produce cash flow for my household.
This cash flow is even more vital to my overall game plan during the winter season. Fall brings in the season of giving, and royalties make an excellent companion to my other resources.
This year, I have earned more royalties in nine months than all of last year. Every year brings more wealth and success to my little book publishing operation.
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But how did I get to this point, and what’s next? Why is building a portfolio of creative works as an income stream a good idea? Let’s begin.
How did I start earning royalties? I never considered myself creative or thought of making money from my creativity; I was a government employee for 24 years.
However, after reading “Unfair Advantage” and other Robert Kiyosaki books, I knew I needed to start earning royalties as a source of income.
Why are royalties so crucial to my household income plan? Royalties and other creative works do not correlate directly with other capital markets such as stocks, bonds, commodities, and real estate.
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Sure, when there is a market downturn, your royalties will take a hit. However, if there is a terrible day on the stock market, it probably won’t stop someone from buying your book (or other creative works).
The word of the day is diversity, and royalties are a wholly unique way to earn income. However, royalties don’t come in steadily or consistently; they can be pretty erratic.
I wanted to create an income stream outside my pension, dividends, and real estate holdings. Royalties also grow exponentially as long as you stick with your art form.
What’s next for my book business? I started my book business almost three years ago and can’t ask for more.
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It’s essential to understand that building a consistent royalty income stream may take five to ten years.
That’s a lot of time, but it’s worth it. Not only will you be building your base of income, but also your skills and talent.
By the time you reach a high level of income, your skill sets will be highly marketable and in demand. You can become a consultant or specialist in your field of creativity.
For example, I can produce a new Amazon book in 3-4 hours, from start to finish. Many people have a manuscript but need to learn how to publish, upload, or create a cover.
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The skills you learn to build your royalty income stream are first-rate. Plus, you’ll have the social proof that your skills work and can sell.
It also feels great to release your works into the world. Only a few people can be content creators, so you will join a small elite group of individuals who face the public without fear or hesitation.
Currently, I earn $200/month from my books and website. My goal is to make $1,000/month from my books. At this point, I’ll take a short pause and see what’s next.
I predict that I will reach this income level in 2026, which is three years away. In the meantime, I will keep honing my skills and pushing my content forward.
Dividend Investing in Your 40s
Royalties are the spice of life. The best way to use royalties is when you don’t depend on them. For example, let’s say you need $6,000/month to retire.
I would plan on building up my pension, 401K, dividends, and real estate to cover the $6000. Then, I would have royalties come over the top to add more fun to my life.
Ideally, I would use my $1,000/month in royalties to purchase even more dividend stocks—allowing my royalties to grow my cash flow even further.
Royalties are unique from real estate, business, and dividends because they don’t cost much. You’ll need a lot of money to build $1,000/month in dividends or rental income.
Successful People Need the Most Help
To build royalties, you’ll need time and patience. You must learn special skills like running a website, producing podcasts, or editing videos.
More than the sum of your parts. I would love just to write all day, but to build royalties, I must get my work to market.
There are lots of ways to be creative: music, photography, art & design, videos, podcasts, and writing come to mind.
But here’s the rub: most people can’t get their work from their computer and into the world. You have to become multi-talented to reach an audience.
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In short, you need to learn the business side of the operation. Anyone can write a book, but only a few people can sell one.
The difference is the person selling books has to understand the market, create fabulous book covers, and build an audience.
Building an audience is no small feat. Why should someone listen to you? At first, you’ll struggle to find your voice, but that’s part of the process.
90% of authors on Amazon don’t earn $100 per month. I am approaching $200. It doesn’t sound like much but consider that you would need $60,000 in a high-yield savings account to earn that much monthly (at 4% interest).
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How long would it take you to extract and save $60,000 from your job? Don’t forget you’ll be paying multiple taxes from your income, plus dealing with emergencies and family events.
That’s why royalties are a powerful addition to your household income—they give you a vastly different way to approach your finances and lifestyle.
The art of creating art. Everyone needs a creative outlet. Some people will do it for money, and others will keep it to themselves.
Everyone should release their art to the public, whether they want to make money or not. You become more creative when your work hits the market.
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There is something difficult yet refreshing about seeing others interact with your work. Most people will think nothing of your work, but it will resonate with a few.
Conclusion. The group that loves your work is enough to keep you going. You can change a few lives with your passion and earn extra income—there is no better reward.
This fall, take the time to think about your creative passion. You don’t have to be good; you can learn in public.
The Magic of a Sales Funnel
People love to watch others learn and grow. You could learn to play violin on YouTube or start a blog on water painting. The world is your oyster.
I crossed over to the other side of creativity, and it has been a fantastic journey. Every day, a few people read my works—how amazing!
If you want to take control of your life, add creativity, build royalty income, and learn new skills, it’s time to become a content creator. Good Luck!
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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
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