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This can help you to protect the property youre renting out. For extra peace of mind, consider requesting a safety deposit too.

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 the traditional way of making money, implement a few of the passive income strategies above so you can start working and making more money as you sleep today.

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Years ago, I recall deciding, I did not want my wife to feel as though she"had to" go to work when she didnt want to.

Then, thinking it was my only option, I tried to figure out how I'd cut down our household expenses if we had a baby. After all, I wanted to start saving for his or her school.

Don't overlook saving for retirement! My spouse and I wanted to ensure we could tell each of the other military families that we had a good TSP and Roth IRA to our future old-selves. We didn't want to seem financially uneducated.

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But something did not feel right. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

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

I saw 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 after graduating Naval Flight School. Over the next several hours in my Automobile University, my 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 patiently until I turned 59.5 or even 65 to spend any of it.

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

Before you make any assumptions, the book was not a get rich quick scheme. In fact, it was a novel about patience more than anything. Patience with a plan and a mindset focused on cash flow and assets rather than loans on liabilities.

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Rich Dad Poor Dad tells a story about a man with just two fathers: his own and his very best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other daddy didnt possess a college diploma, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with the 6-figure paycheck was that the"poor dad" in the publication. .

The rich dad lived a comparatively stress-free lifetime in which he made systems to make use of him, while the inadequate dad constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad let me realize, all I needed to do is get much more paychecks. Paychecks I didn't work for on a day-to-day basis.

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

We keep 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 sensed the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.