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This can 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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If youre tired of this traditional means of making money, implement some of the passive income approaches above so you can start working and making more money as you sleep today.

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Years ago, I recall deciding, that I did not want my spouse to feel as though she"had to" go to work when she didnt want to.

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

Don't overlook saving for retirement! My spouse and I wanted to ensure we can tell each of the other military families that we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to appear 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 maintain up check these guys out this with every new baby and/or expense we had We were hoping to have three children someday. As a result, our many discussions about finances began making the future look more and more stressful. Anxiety started 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 were the days where I'd save money for the sake of compound interest and wait patiently until I turned 59.5 or 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 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 strategy 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. Another father didnt have a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with the 6-figure paycheck was the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free life in which he made methods to work for him, while the poor daddy constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad let me understand, all I needed to do is get much more paychecks. Paychecks that 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 valuable time for money and striving valiantly to increase our hourly rate.

In the military, it means doing visit their website everything we can to get to the next rank for a pay bump or waiting one more year to get our bi-monthly paycheck to increase with a sad 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 that the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.