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

As you can see there are a ton of ways that you can make 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 some of the passive income strategies above so that you can start working 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 if she didnt want to.

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

Don't forget saving for retirement! My wife and I wanted to make sure we can tell all the other military families that we had a good TSP and Roth IRA for our future old-selves. We didn't want to appear 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 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 various 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 that I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next few hours in my Automobile University, my entire world was turned upside down.

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Gone would be 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 become better NOW! Or at least within the next couple of decades. I also wanted my life to continue getting helpful site better each month and every year.

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Before you make 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 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 daddy didnt have a college degree, lived 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 publication. .

The wealthy dad lived a relatively stress-free lifetime in which he created systems to work for himwhile the inadequate daddy constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad let me realize, all I needed to do would be get 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 army, it means doing everything we can to get to the next rank for a cover bulge or waiting one more year to have 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 the book asking mewhat should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.

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