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This will allow you to guard the property youre renting out. For extra peace of mind, consider requesting a safety deposit as well.

As you can see there are a ton of ways which you can make 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 this traditional way of making money, implement a few of the passive income strategies above so that you can start working and making more money while you sleep now.

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Years ago, I remember deciding, I did not want my wife 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 if we had a baby. After all, I wanted to begin saving for her or his school.

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

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However, 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 up this with each new baby and/or expense we had We had been hoping to have three children . Because of this, our various discussions about finances started making the future seem 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. During the next several hours in my Automobile University, my world was turned upside down.

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Gone would be the days where I'd save money for the sake 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 several years. I also wanted my life to continue getting better each month and each 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 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 father 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 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 the"poor dad" in the book. .

The rich dad lived a comparatively stress-free lifetime in which he created methods to make use of himwhile the read review inadequate daddy 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 much more paychecks. Paychecks I didn't work for on an everyday basis.

Most of us develop 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 reach the next rank to get a cover bump or waiting one more year to have 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 sensed that the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.