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This will help you to guard the property youre renting out. For extra 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 list has helped you narrow down which source of income is best 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 you can begin working and making more money as you sleep today.

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

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

Don't overlook saving for retirement! My wife and I wanted to ensure we could tell all the other military families 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 was forcing some tough conversations between my wife and I.

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

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my world was turned upside down.

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Gone would be the days where I'd save money for the sake 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 years. Moreover, I wanted my life to continue getting better each month and each year.

Before you make any assumptions, the book was not a get rich fast scheme. In reality, it was a novel about patience more than anything. Patience with a plan and a mindset focused on cash flow and resources rather visit this web-site than loans on liabilities.

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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 dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other father didnt possess a college degree, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father with all visit this site right here the 6-figure paycheck was that the"poor dad" in the book. .

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

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The wealthy dad helped me realize, all I needed to do would be get more paychecks. Paychecks I didn't work for on an everyday basis.

Most of us grow up 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 cover bulge or waiting one more year to get our bi-monthly paycheck to increase by a gloomy 2.5%.

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

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Here is the question I sensed the book asking mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.