Live Like Royalty and Earn Royalties
Royalties used to be earned only by Royalty. This is the origin of the word royalties. When the royalty (Kings, Queens, Princes, Dukes, etc) owned all the land, the tenants had to pay the owner a "royalty" each month for the right to live on the land and use the land.
The nobility never had to work for a living. They enjoyed a constant "income" of royalties that flowed to them month after month whether they worked or not! In these modern times, you can earn royalties from allowing others to "rent" or use any kind of property, including intellectual property.
A royalty is a payment made for the use of a property. You can get royalties from books, patented inventions, copyrighted works of art, an idea, a franchise, or a natural resource. You can also earn royalties by letting other people use your money. This kind of royalty is called "interest"!
I sell hundreds of my books every month yet I still own the book! This is the magic of royalties, and why those who understand how to earn royalties get rich. To earn royalties, you must own (or create) something of value which you can sell over and over again.
P.S. Yes, groom yourself for future royalty by creating a book, idea, technique, or invention, that you can earn royalties from. Teach your children about royalties also.
Creating Wealth Lesson 2 - Changing Your Money Beliefs
Copyright Christopher Westra | Earn Royalties