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

As you can see there are a ton of ways which you can make 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 this traditional way of making money, implement a few 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 recall deciding, I did not want my wife to feel as though she"had 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 household expenses if we had a baby. After all, I wanted to begin 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 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 difficult 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 3 children . As a result, our many discussions about finances started 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 driveway 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 sake of compound interest and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of decades. Moreover, I wanted my life to continue getting better each month and each year.

Prior to making any assumptions, the publication was not a get rich quick scheme. In reality, it was a novel about patience more than anything. Patience with a plan 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 very 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. The other 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 all the 6-figure paycheck was the"poor dad" in the book. .

The rich dad lived a comparatively stress-free lifetime in which he created systems to work for himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending clocks.

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The rich dad let me understand, all I needed to do would be get more paychecks. Paychecks 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 precious time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to get to the next rank for a pay bump or waiting one more year to get our bi-monthly paycheck to increase by a sad 2.5%.

We maintain trading our time for money even though click to find out more 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 me: what if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.