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This will 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 which you can make passive income. With luck, this record 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 start working and making more money as you sleep now.

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Years ago, I remember deciding, I did not want my wife to feel like 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 when 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 make sure we can tell all the other military families we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to appear financially uneducated.

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But 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 keep this up with every new baby and/or expense we had We were hoping to have 3 children . As a result, our various discussions about finances started making the future look more and more stressful. read this article 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 entire world was turned upside down.

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Gone were the days where I would save money for the sake 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 several years. Moreover, I wanted my life to continue getting better every month and each 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 assets rather than loans on obligations.

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

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

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

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The wealthy dad helped me realize, all I needed to do is get much 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 valuable time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to get to the next rank to get a cover 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 is the question I felt that the book asking me: what should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.