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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 as well.

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

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So if youre tired of this traditional way of making money, implement a few of the passive income approaches above so you can begin working less and making more money as you sleep today.

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Years ago, I remember deciding, I did not want my wife to feel like she"had 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 household expenses when we had a baby. After all, I wanted to begin saving for her or his college.

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 for our future old-selves. We didn't want to seem financially uneducated.

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However, 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 three children someday. As a result, our many discussions about finances began making the future seem more and more stressful. Anxiety began setting in.

I watched 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 linked here after graduating Naval Flight School. Over the next few 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 even 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of years. I also wanted my life to continue getting better click each month and every year.

Before you make any assumptions, the publication was not a get rich fast scheme. In fact, it was a book 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 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. Another daddy didnt have 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 book. .

The wealthy dad lived a comparatively stress-free life in which he created methods to make use of himwhile the inadequate dad constantly found himself pouring over his receipts and family spending clocks.

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

The majority 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 get to the next rank to get a cover bulge or waiting one more year to have our bi-monthly paycheck to increase with a gloomy 2.5%.

We maintain trading our time for money even though time Look At This 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 sensed the book asking mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.