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This can allow you to guard 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 that you can earn passive income. With luck, this list has helped you narrow down which source of income is best for you.

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If youre tired of the traditional means of making money, implement a few 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 recall deciding, that I did not want my spouse to feel as though she"needed to" go to work when she didnt want to.

Then, thinking it was my only option, I tried to work out how I'd cut down our family 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 ensure we could tell each of the other military families we had a solid TSP and Roth IRA for our prospective 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 maintain up this with every 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 started 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 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. I also wanted my life to continue getting better each month site link and every year.

Prior to making any assumptions, the publication 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 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 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. The other 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 all the 6-figure paycheck was that the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free life in which he created methods to work for him, while the inadequate daddy constantly found himself pouring over his receipts and family spending clocks.

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The rich dad let me understand, all I needed to do is get much more paychecks. Paychecks that 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 valuable 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 pay bulge 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's the question I felt the book asking me: what if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.