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This will help you to protect the property youre renting out. For additional peace of mind, consider requesting a safety 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 this traditional way of making money, implement some of the passive income approaches above so that you can start working less and making more money as you sleep today.

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Years ago, I recall deciding, that 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 figure out how I'd cut down our family expenses if we had a baby. After all, I wanted to start saving for her or his college.

Don't overlook saving for retirement! My spouse and I wanted to ensure we could tell all the other military families we had a solid TSP and Roth IRA for 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 difficult conversations between my wife and I.

How were we supposed to maintain up this with every new baby and/or expense we had We had been hoping to have 3 children . As a result, our various discussions about finances began making the future seem 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. Over 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 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 become better NOW! Or at least within the next several years. I also 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 novel about patience more than anything. Patience with a strategy and a mindset focused on cash flow and resources 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 read very best friends. His father 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 daddy didnt have 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 rich dad lived a relatively stress-free lifetime in which he created 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 wealthy dad helped me understand, all I needed to do would be get more paychecks. Paychecks I didn't work for on a day-to-day 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 army, it means doing everything we can to reach the next rank for a pay 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 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 should you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.