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

As you can see there are a ton of ways which you can earn passive income. With luck, this list has helped you narrow down which source of income is best for you.

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If youre tired of the traditional means of making money, implement a few of the passive income strategies above so you can begin working less and making more money while you sleep today.

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Years ago, I recall deciding, that I did not want my wife 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'd cut down our family expenses if we had a baby. After all, I wanted to start saving for his or her school.

Don't forget saving for retirement! My spouse and I wanted to ensure we could tell all the other military families that we had a good TSP and Roth IRA to our future 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 difficult 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 someday. 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. Over the next few hours in my Automobile University, my world was turned upside down.

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Gone would be the days where I would save money for the interest 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 this hyperlink at least within the next couple of years. I also wanted my life to continue getting better every month and every year.

Prior to making any assumptions, the publication was not a get rich fast scheme. In reality, it was a novel 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 useful link 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 contains a 401k, but struggles month-to-month financially. The other daddy didnt have a college degree, 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 the"poor dad" in the publication. .

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 over his receipts and household spending spreadsheets.

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The rich dad helped me realize, all I needed to do would be get much more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority 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 my sources for a pay bump or waiting one more year to have our bi-monthly paycheck to increase with a gloomy 2.5%.

We maintain 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 should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.