I never knew that being creative could help you build wealth. I spent 24 years grinding in the United States Marine Corps, doing God’s work.
I read all of Robert Kiyosaki’s books toward the end of my career, which began highlighting ways to create cash flow using creativity.
It takes a while for a government or employee mindset to shift toward entrepreneurship and creativity, but it is possible. I am living proof.
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Today, I want to discuss the merits of creating royalties from your creative works. If you start now, you can produce an everlasting stream of passive income that could outlive you. Let’s begin.
What are royalties? Royalties are income streams you receive from your creative works and intellectual properties. Sounds pretty intimidating, yes?
Don’t get too wrapped up in the definition. Today’s world allows anyone to make money from royalties—as long as they can produce something of value.
Robert Kiyosakis’ books still fascinate me. Most people buy assets such as businesses, stocks, bonds, and real estate. However, the top 10% create assets from scratch—that’s how to build real wealth.
You must decide how royalties fit into your retirement plans. I love creating books every single day. I aim to achieve $1,000 monthly in passive income from books and writing.
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My goal isn’t very lofty, but it doesn’t need to be. I have an extensive suite of passive income from other sources. However, my writing leaves the opportunity for my kids to grow my royalty earnings if they choose.
How to build passive income from royalties. Everyone has unique knowledge that is valuable in the open market. This can be how to graduate medical school, succeed in the military, or swim freestyle.
Your voice is unique, and that should give you confidence in your abilities. Most people fear public speaking (or writing or talking) more than anything in the world.
To become wealthy, you must affect my people. The more people you help, the richer you become; therefore, you must overcome your fears.
I joined the Marine Corps in 1999 as a broke 18-year-old. I had $10 in my pocket, no bank accounts, and no prospects. My parents did not own their home.
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In 2023, I retired, owning three homes, having a wife and two kids, and having over $300,000 in the bank. As my son leaves for the Air Force in six months, he already has $10,000 in his high-yield savings and brokerage accounts.
The knowledge of how to be successful in the military while building wealth is extremely valuable. Someday, I hope to exploit this knowledge to help others use the military as a financial springboard to get what they want in life.
In the meantime, I am honing my writing and communications skills. I love writing because it is an art form like no other. The fewer words you can use, the better.
Currently, I earn roughly $300 per month in passive income from writing. But, that is only because I am not putting the full weight of my time into my business.
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Attending college and receiving $1,800/month from the Department of Veterans Affairs is more lucrative than spending that time on my business. I can invest this money into dividend-paying stocks.
The value of royalties. Longevity of income is the true value of creating royalties. I can stop writing for two years, and my book will still generate income.
In fact, royalties can generate income under my name for 70 years after my death. Talk about building generational wealth.
So, how can you use royalties going into retirement? As I said, everyone has an important story to tell. You just need to decide how you want to tell it.
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You can use a writing platform, social media, YouTube, podcasting, photographs, art, or design. You can choose your path and make adjustments along the way. There is no boss to dictate terms for your success.
The best advice I can give you is to start early. I am talking about ten years before you retire. If you plan to retire at age 60, start building content at age 50.
You can talk about your retirement plans to move overseas, start a homestead, invest in dividends, or create a consulting business. The topics are endless.
You also do not need to build a massive following; 1,000 superfans will be enough to carry water for your creative career.
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If you don’t want to start a full-time creative career—don’t start a full-time career. No one is telling you to become the next Joe-Rogan.
Lack of mentorship. The world lacks mentorship for diverse voices. It may seem everyone is finding success in the world, but this is hardly the case.
I retired as a Master Gunnery Sergeant (E-9) in the US Marine Corps. This is an extremely rare feat. Many people would love to see how I navigated the military throughout the years. My story is unique because my wife is from Turkmenistan, I am black, and I kept my family together.
Your story is unique as well. What you did in your career can help many others navigate their lives and futures.
I am going to college full-time, and I can honestly say that these kids are not receiving the mentorship to become great entrepreneurs, employees, or managers.
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If you have nothing to discuss, create something—learn how to sew, grow rare herbs, read tarot cards, or follow the stars. Whatever your passion, create something to present to others.
Take life by the horns. How do you feel when YouTubers create content about something YOU love?
My favorite YouTuber makes videos about battling Pokemon competitively. This is the coolest job in the world, and he can support his family by doing this.
Luckily, you don’t need to go 100% full-bore like this. You can set a goal like $1,000 or $5,000 per month, and build a creative machine to achieve your goals.
Once you have an audience, you can give them more of what they love. They may want you to dive deeper into a topic or have one-on-one mentoring sessions with you.
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The key to building an audience is creating a never-ending stream of content. However, the market dictates your content and how to present it.
Always stay true to your vision, but let the audience dictate what they want to see. For example, my Pokemon Youtubers focus on battling, not team-building strategy. He makes his videos 45 minutes to an hour long.
Over the years, you will learn what your audience wants; creating is the only way to learn. There is no getting around the first two years of silence from the world.
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Conclusion. I love retiring on dividend stocks, but there is more to my retirement program. Dividend stocks are expensive and yield 2-5%.
It costs me nothing to create a book; therefore, my return is infinite. Nothing I purchase can produce a higher return than writing a book for free.
I also get to use tax write-offs for my business, making it even more lucrative for my retirement program.
Ultimately, creating content and building royalties will free your soul from the tyranny of work. You can reflect on your life and help others achieve their goals. You will become a hero and earn money in the process. It’s a win-win scenario!
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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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