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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 that you can earn passive income. Hopefully, 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 the traditional means of making money, implement some of the passive income strategies above so that 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 wife to feel like she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to work out how I would cut down our family expenses when we had a baby. After all, I wanted to start saving for her or his school.

Don't overlook saving for retirement! My spouse and I wanted to ensure we can tell all the other military families that we had a solid TSP and Roth IRA for our future old-selves. We didn't want to seem financially uneducated.

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But 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 keep this up with every new baby and/or expense we had We were hoping to have 3 children someday. Because of this, our many discussions about finances started making the future look 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 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 were the days where I'd save money for the interest of compound interest and wait patiently 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 each month and every year.

Before you make 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 plan and a mindset focused on cash flow and resources rather than loans on obligations.

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Rich Dad Poor Dad tells a story about a man with just go to this site 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 diploma, dwelt 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 book. .

The wealthy dad lived a relatively stress-free life in which he made methods to work for himwhile the inadequate daddy constantly found himself pouring a knockout post over his receipts and household spending spreadsheets.

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The wealthy dad let me realize, all I needed to do would be get 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 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 to get a cover bulge or waiting one more year to get our bi-monthly paycheck to increase by a gloomy 2.5%.

We keep 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 mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.