Royalties is the money you receive from streaming platforms or collection societies like UPRS and MCSK. Don’t be discouraged if the amounts are small at the start. Royalties generally are not for bills. Your bills should be covered by gigs/shows/concerts during your prime.
Royalties should be invested into a Unit Trust Fund. These Funds invest small amounts and returned with interest. The new amount with interest is then reinvested and returned with interest. Compounding is earning interest on interest and is a powerful way to grow value. With compounding, even small amounts can grow over time. So now let’s see how to make some money.