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This will help you to guard the property youre renting out. For extra peace of mind, consider requesting a security 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 best for you.

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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 now.

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Years ago, I remember 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 would cut down our family expenses if we had a baby. After all, I wanted to start saving for her or his school.

Don't overlook saving for retirement! My wife and I wanted to ensure 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 was 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 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 that I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During 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 check this 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 couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Before you make any assumptions, the book was not a get rich quick scheme. In reality, 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 best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another daddy didnt possess 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 that the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free life in which he created systems to make use of himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending spreadsheets.

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The rich dad let me realize, all I needed to do would be get more paychecks. Paychecks I didn't work for on an everyday 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 army, it means doing everything we can to get to the next rank to get a pay bulge 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's the question I felt the book asking me: what if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.