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This will allow you to guard the property youre renting out. For additional peace of mind, consider requesting a security deposit as well.

As you can see there are a ton of ways which you can make passive income. Hopefully, this record has helped you narrow down which source of income is most effective for you.

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If youre tired of this traditional means of making money, implement some of the passive income approaches above so that you can start working and making more money while you sleep today.

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Years ago, I remember deciding, that I did not want my wife to feel like she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to work out how I would cut down our household expenses when we had a baby. After all, I wanted to start saving for his or her college.

Don't forget saving for retirement! My wife and I wanted to make sure we could tell all the other military families that we had a solid TSP and Roth IRA to our future old-selves. We didn't want to appear financially uneducated.

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However, something did not feel right. My thought process seemed counterintuitive and it had been forcing some difficult conversations between my wife and I.

How were we supposed to keep up this with every new baby and/or expense we had We had been hoping to have three children someday. Because of this, our many discussions about finances started making the future seem more and more stressful. Anxiety started setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that I had a 13-hour driveway from Pensacola, FL to New River, NC learn this here now after graduating Naval Flight School. Over the next several hours in my Automobile University, my entire world was turned upside down.

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Gone were the days where I would save money for the interest of compound interest and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the book was not a get rich fast scheme. In fact, it was a book about patience more than anything. Patience with a plan and a mindset focused on cash flow and assets rather than loans on obligations.

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Rich Dad Poor go right here Dad tells a story about a man with just two fathers: his own and his best friends. His father has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy didnt have a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father with all the 6-figure paycheck was the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free lifetime in which he made systems to work for himwhile the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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The rich dad helped me understand, all I needed to do is get more paychecks. Paychecks I didn't work for on a a knockout post day-to-day basis.

The majority of us develop focusing on how much we earn per hour. Constantly trading our precious time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to reach the next rank to get a cover bump or waiting one more year to get our bi-monthly paycheck to increase with a sad 2.5%.

We maintain trading our time for money even though time is the only thing we can't earn more of... we can always earn more money.

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Here's the question I felt the book asking me: what if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.