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This can help 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 earn 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 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 now.

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Years ago, I recall deciding, that I did not want my wife to feel as though she"needed to" go to work if 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 forget saving for retirement! My spouse and I wanted to make sure we could tell each of the other military families that we had a good TSP and Roth IRA to 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 had been forcing some difficult conversations between my wife and I.

How were we supposed to maintain this up with each new baby and/or expense we had We had been hoping to have 3 children someday. Because of this, our various discussions about finances started making the future seem more and more stressful. Anxiety started setting in.

I saw 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. Over the next several hours in click over here now my Automobile University, my world was turned upside down.

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Gone would click to read be 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. Moreover, I wanted my life to continue getting better every month and every year.

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Before you make any assumptions, the book was not a get rich fast 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 obligations.

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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 has a 401k, but struggles month-to-month financially. Another father didnt possess a college degree, dwelt 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" news in the book. .

The rich dad lived a relatively stress-free lifetime in which he made systems to work for himwhile the poor daddy constantly found himself pouring over his receipts and family 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 an everyday basis.

Most of us develop focusing on how much we earn per hour. Constantly trading our precious 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 cover bump 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's the question I felt 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.

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