In the investor words royalty is defined as "A payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use." Probably I wouldn't prefer to complicate the meaning or the definition by way of elaborated complex description as we don't need it. If you have understood the above definition which I am sure that you have then to make your understanding simpler just read the title of the blog once again.
Whatever you work on earlier during your lifetime is what that will serve you when you're unable to work later. Today, many people are in the rapid mad rush of building materialistic assets one after the other with an unending list in their hands. In due course they are forgetting to build the contribution that their work can generate. I am not against the process of building materialistic assets as I do agree that it's very important in life but let me reassure you that its not the only solution for the days of drought. If an author has authored a book, he keeps getting royalty income when every new copy of his book is sold. Similarly when a musician has composed a music album, he keeps getting royalty income for every record that's sold. These types of royalty keep continuing and increasing as long as the book or the music can satisfy the customers. So an author who invests more on enriching his writing ability to cater to mass audience can write more books of more vareity and have more sources of royalty income. Similarly a musician who can nourish the musical talent in him in diversified directions to meet the tastes of diversified music lovers can enlarge his modes of royalty income for all the musical work that he does. In either of the cases, if the author or the musician starts focusing only on increasing his bank balance or the luxury chart of his house exploiting the temporary popularity in ignorance of the growth and development of his talent then he might soon end up in losing the people's interest because people demand change and novelty.
The example of the author or the musician was just to illustrate the importance of the quality of work that one has to deliver over the mere fulfillment of basic and baseless necessities of life. Your work is what will reap you fruits when you're no more in a position to deliver the same what you could do some years back. Hence focus on what you can do more, what you can do better and how much more your work can contribute. My work is to develop the messages in my blogs to reach the different strata of thinkers and readers and also to know their reviews on firstname.lastname@example.org