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This will allow you to protect the property youre renting out. For additional peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways which you can make passive income. Hopefully, this list 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 means of making money, implement a few of the passive income strategies above so you can begin working and making more money while you sleep now.

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Years ago, I remember deciding, that I did not want my spouse to feel like she"needed to" go to work when she didnt want to.

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

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

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However, 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 up this with every new baby and/or expense we had We had been hoping to have three children . As a result, our various discussions about finances began 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 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 imp source 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 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 decades. I also wanted my life to continue getting better every month and each year.

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Prior to making any assumptions, the book was not a get rich fast scheme. In reality, it was a book about patience more than anything. Patience with a strategy 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 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 has a 401k, but struggles month-to-month financially. The other father didnt have a college diploma, 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 the"poor dad" in the publication. .

The wealthy dad lived a relatively stress-free lifetime in which he created systems to make use of himwhile the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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

The majority of us develop 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 pay bulge or waiting one more year to have 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 is the question I sensed that the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on visit this site a monthly basis.

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