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As Willie Nelson is set to be inducted into the Rock and Roll Hall of Fame this week, he’s looking back on his life and his music.

In a new book, "Energy Follows Thought: The Stories Behind My Songs," written by Nelson, with David Ritz and Mickey Raphael, the veteran singer-songwriter gives insight into some of his favorite tunes.

In excerpts from the book provided to Fox News Digital, Nelson writes about two of his songs, "The Party’s Over" and "Funny How Time Slips Away."

In "The Party’s Over," Nelson sings, "Turn out the lights, the party’s over/They say that all good things must end/Call it a night, the party’s over/And tomorrow starts the same old/thing again."

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Book cover for Willie Nelson's "Energy Follows Thought"

Willie Nelson's book "Energy Follows Thought: The Stories Behind My Songs" shares secrets and insight into his songwriting and life. (William Morrow/Harper Collins Publishers)

Of the song, he writes in the book, "Some people say it’s not good to feel sorry for yourself. Maybe so, but when it comes to songwriting, self-pity ain’t a bad attitude to embrace. Folks relate. From time to time, we all get to feeling sorry for ourselves."

The song debuted in 1967, and, according to Nelson, "it went nowhere."

a handwritten note with Willie Nelson's name on it

An early sample of a handwritten note from Nelson featured in the book. (The Wittliff Collections, Texas State University)

But then it got a second life after it was included on a live album in the 1970s, and then again when "Dandy" Don Meredith, the Hall of Fame Dallas Cowboys quarterback who was a friend of Nelson’s, became a commentator on "Monday Night Football."

"Along with Howard Cosell on ‘Monday Night Football,’ Don let you know when the game was out of reach by singing his out-of-tune version of ‘The Party’s Over,’" Nelson wrote. "I couldn’t care less that he was out of tune, especially because he’d tell those millions of football fans that Willie Nelson was the writer and they better go see ol’ Willie the next time he comes to their town."

He also reflected on fellow country music icon Merle Haggard telling him, "‘That’s the saddest party song ever written.’"

Willie Nelson sitting and smiling with guitar

Willie Nelson joked that "there's good money in sadness" after fellow country icon Merle Haggard called his song "The Party's Over" "the saddest party song ever written." (Katherine Bomboy/NBC via Getty Images)

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"Maybe so, Merle," I said, "but there’s good money in sadness," Nelson recalled.

In another excerpt, he reflects on the song "Funny How Time Slips Away," written by Nelson in the early 1960s.

"It feels like only yesterday that the story fell out of my brain onto the page. Like all these songs, I let my unconscious do the work," he wrote.

The song tells the story of a "woman who does a man dirty," as Nelson put it, with lyrics like, "How’s your new love?/I hope that he’s doing fine/Heard you told him/That you’d love him till the end of time/Well, you know, that’s the same thing/That you told me/Well, it seems like just the other day/Gee, Gee, ain't it funny how time slips away."

Nelson points out there actually wasn’t a heartbreaking woman in his life as the song portrays, admitting, "If anything, it’s been the other way around. I haven’t always acted with unquestionable honor."

Willie Nelson smiling holding his guitar

Nelson wrote in his book that he hasn't "always acted with unquestionable honor." (Gary Miller/Getty Images)

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As to why he created the character, whom he also refers to as a "black widow" in the song, Nelson reveals it’s a classic trope. 

"Simplest answer is that the sultry seductress has been an alluring character ever since Antony hooked up with Cleopatra. Shakespeare wrote a play about them that takes up five acts and will probably be staged till the end of time," he explained.

He added, "My little song, a far more modest statement, may not enjoy such a long life. If it disappears, that’ll be a shame. But what can you do? Songs, like time, do slip away."

In April, Nelson celebrated his 90th birthday with a two-night event at the Hollywood Bowl.

Willie Nelson wearing sunglasses with arms raised on stage

Nelson celebrated his 90th birthday with two-night event at the Hollywood Bowl in April. (Stephen J. Cohen/WireImage)

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Stars came out in force to honor him, with guest performances from artists including Snoop Dogg, Chris Stapleton, Miranda Lambert, Lyle Lovett, Roseanne Cash, The Chicks and Kacey Musgraves joining him onstage.

Lambert told Fox News Digital at the event, "I feel like he's had such an influence on me. Growing up in Texas, it was just ‘Willie’s Religion' there. As a songwriter, you don't get any better than that."

Lovett also shared, "Willie Nelson's insistence on doing things his way opened the doors for a lot of artists and songwriters, in Texas certainly, but certainly in Nashville, to think freely in a way that people didn't do before Willie Nelson."

The Texas-born musician also celebrated the release of a five-part documentary at the Sundance Film Festival in January, and he won two Grammy Awards for best country album for "A Beautiful Time" and best country solo performance for "Live Forever" in February.

Willie Nelson smiling with arms crossed across his chest

Nelson is still touring, and told AARP "working is really good for me, no matter what kind of show it is." (Rick Kern/Getty Images for SiriusXM)

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On top of that, Nelson released a new album in March, "I Don't Know a Thing About Love," and is still planning on continuing to tour.

"Working is really good for me, no matter what kind of show it is," he told AARP shortly before his birthday.

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When asked if he’d ever consider retiring from the road, Nelson said, "Jokingly, I retire after every tour."

He continued: "But I’m always ready to go back again. I like the bus. I have everything I need on the bus. I never have to go into a hotel room anywhere. It’s not that bad."