Eldon Sartel over at Wordpreneur got my attention with this headline: Freelance Writing Isn’t the Only Way to Make Money Writing
Although I’m not sure I agree that freelancing always means working for clients, I take his point as he publishes an article by Lindsay Buroker called Forget Freelance Writing Jobs, Build Financial Independence Writing for Yourself. That sounds like residual income to me, and sure enough it is.
So I chased down the article’s author and found a blog called Writing For Your Wealth! First of all, why didn’t I think of that? Sigh.
This is one I’m subscribing to and I’m …read more

I’ve added an hour every day, five days a week, to my schedule for completing my book. That spot is for more than just this book, but for creating residual income in general.
And this morning, in spite of an early f2f meeting that took a couple of hours out of my schedule, I actually spent an honest hour editing. Got some good work done, too. I also spotted some problems that will require some thinking, etc. etc. etc. You know, the general stuff that comes up midway through a writing project.
What surprised me most, however, was the internal sense …read more

On May 27th, I declared to the world my intention to create a solid stream of residual income. I even have a nice handful of products that, with proper marketing, could act as the basis of a constant stream of, eventually, significant money.
In the last 11 days since that post I’ve done… almost nothing toward my goal. Sigh. I got all distracted. First, I realized that I hadn’t changed my contact information on my other websites, particularly www.aboutfreelancewriting.com, www.writingwithvision.com and www.annewayman.com. I did get that mostly done. But I also realized that updating www.writingwithvision.com is a horrid chore because of …read more

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 …read more

Chris Garrett, who blogs at chrisg.com has a good post called: The Myth of Freelance Pay. The gist is that many people have an inflated idea of how great we freelancers have it when it comes to our income.
But it’s the comments that really fascinated me, particularly the one by Nathania Johnson. She says, among other things that It would be crazy of me to ask my clients for a percentage of every sale of every page I write web content for. I accept my salary and I do my work..
Of course, I get a revenue share here, and …read more

Over in our forum, someone started a thread asking What’s Your Dream Writing Job?
It’s a great question. My current dream job would be a best selling book or two that would result in significant royalties, or some other project that creates residual income.
So… what’s your dream writing job?
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.

Although there are real advantages to freelance writing, there are also some problems. The biggest is the feast or famine nature of the work flow. There are several approaches, including:

Residual income from book and other royalties, web site affiliate income and the like. The goal is here is to continue to earn income from work already done.
Regular gigs – work that is performed weekly or monthly or some other repeating and predictable fashion.
Savings to fill in the gaps.

There are challenges to each approach. For example, royalty income tends to taper off over time; building affiliate income takes time and …read more