Building Residual Income – One Writer’s Saga
May 27, 2008 by Anne Wayman
Filed under Jobs
I’m probably not going to win a lottery (I never buy tickets) and it doesn’t look like I’m going to inherit anything substantial. And, truth be known, I don’t have any real retirement plan.
So, I want and need to create some serious residual income.
I get about $250 in royalties every year – maybe $300. Once and awhile, some pamphlets that I wrote for Hazelden will kick out a grand, but not every year and not in an predictable fashion.
I’ve got one book, Powerfully Recovered! that can, I think, bring in significantly more with some savvy marketing. I’ve also got some eBooks in the same 12 Step genre.
I also have ebooks about writing for sale at www.aboutfreelancewriting.com that need some attention and marketing.
And, like every other writer I know, I have a couple of other books rattling around in my head that have yet to be written. At least one has a potentially big market.
Working with a couple of friends, I’m determined to develop some significant residual income, first with the writing, and then, maybe, through investments of one sort or another… or both.
I’ve started a new category about residual income and, from time-to-time, I’ll post what I’m doing and what kind of results I’m getting.
Meanwhile, if you’ve got any thoughts, ideas, or questions on the subject, let’s talk.
Write well and often,
Two newsletters:
Abundant Freelance Writing – a resource for freelance writers including 3x a week job postings.
Writing With Vision – for those who want to get a book written.
Image from http://www.sxc.hu
This is my big focus right now as well. Working for my money is all well and good, but residual is nice because you still get paid even when you have to take time off.
I make residual income with sites like Associated Content and Ehow – there are others like Triond. With ehow I am making about $60 a month for what I have submitted there.
Trisha… let’s stay in touch here as we work that out.
Katherine… AC… know about them and ehow, but not triond… any secrets you’re willing to pass on?
I just blog about this :) I started on eHow back in March and only earned $2 for the whole month. The amount has jumped considerably after that so I’m hoping I will eventually be making about $100 a month from this. You can see the actual numbers on my blog if you’re curious.
oops. I meant “blogged” about this.
I’m a songwriter and poet who is working daily in web content writing and ghostwriting (usually a combo of the two) to pay the bills. I am very interested in earning some residual income so that I can free up some brain space for my creative work! I have some ideas percolating right now regarding my upcoming poetry books, but I have also heard that there’s no market for that. I believe my longtime readers will purchase copies, but beyond that I don’t know. I’m subscribing to follow-up comments here because I want to jump on the residual income train as soon as possible. Help! ;)
I get residuals from several sites right now. The best paying for me is Suite101. AC pays all right, but Triond pays very, very little. I experimented with them for a few weeks to see how they pay. It was not worth it to say the least.
I get residuals from a few other places as well, though nothing too terribly impressive yet, and then there are my ebook sales. I put together a pretty comprehensive look at the major sites for residuals here:
http://writersjourneyblog.blogspot.com/2008/01/freelance-writing-residual-income.html