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

As you can see there are a ton of ways which 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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If youre tired of the traditional way of making money, implement some of the passive income approaches above so that you can begin working less and making more money while you sleep now.

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Years ago, I recall deciding, I did not want my spouse to feel as though she"needed 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 start saving for her or his school.

Don't forget saving for retirement! My wife and I wanted to make sure we could tell all the other military families we had a good TSP and Roth IRA to our prospective 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 maintain this up 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 seem more and more stressful. Anxiety started 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. During the next several hours in my Automobile University, my 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 be better NOW! Or at least within the next several decades. Moreover, I wanted my life to continue getting better every month and every year.

Prior to making any assumptions, the book 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 why not try here 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 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. Another father didnt possess a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father 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 methods to make use of him, while the inadequate dad constantly found himself pouring over his receipts and family spending spreadsheets.

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The rich dad helped me understand, 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 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 for a pay bulge or waiting one more year to get our bi-monthly paycheck to increase with 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 felt the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.