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This will help you to protect the property youre renting out. For extra peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways that 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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So if youre tired of this traditional means of making money, implement some of the passive income approaches above so you can start working less and making more money as you sleep today.

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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 figure out how I would cut down our family expenses if we had a baby. After all, I wanted to begin 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 we had a solid 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 right. My thought process seemed counterintuitive and it was forcing some tough conversations between my wife and I.

How were we supposed to keep up this with each new baby and/or expense we had We were hoping to have three children . As a result, our various discussions about finances started making the future look 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 driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my entire 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 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. Moreover, I 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 strategy and a mindset focused on cash flow and resources 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 father 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 have a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

The wealthy dad lived a comparatively stress-free Check This Out lifetime in which he created systems to work for himwhile the poor dad 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 much more paychecks. Paychecks that I didn't work for on a day-to-day 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 military, it means doing everything we can to reach the next rank to get a cover bulge or waiting one more year to get 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's the question I felt that the book asking me: what should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.