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This can help you to protect 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 earn passive income. Hopefully, this list has helped you narrow down which source of income is best 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 that you can begin working and making more money while you sleep today.

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Years ago, I remember deciding, I did not want my spouse to feel like she"had to" go to work when she didnt want to.

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

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

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But 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 this with each new baby and/or expense we had We had been hoping to have three children someday. As a result, our many discussions about finances started making the future look more and more stressful. click for source 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 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 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 Check Out Your URL 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 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 degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other father didnt possess 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 book. .

The rich dad lived a relatively stress-free lifetime in which he created methods to work for himwhile the inadequate dad constantly found himself pouring here are the findings over his receipts and household spending spreadsheets.

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The wealthy dad let me realize, 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 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 reach 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 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.