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

As you can see there are a ton of ways which you can earn passive income. With luck, this record has helped you narrow down which source of income is best for you.

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So if youre tired of the traditional way of making money, implement a few of the passive income strategies above so that you can start working and making more money while you sleep now.

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

Then, thinking it was my only option, I attempted 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 college.

Don't forget saving for retirement! My spouse and I wanted to ensure 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 seem financially uneducated.

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But something did not feel appropriate. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to keep this up with each new baby and/or expense we had We had been hoping to have 3 children someday. Because of this, our various discussions about finances began making the future look 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. During the next several hours in my Automobile University, my entire world was turned upside down.

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

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

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

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

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

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

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The rich dad let me realize, all I needed to do would be get more paychecks. Paychecks that I didn't more tips here work for on an everyday 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 for a pay bump or waiting one more year to get our bi-monthly paycheck to increase by 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 is the question I felt the book asking me: what should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.