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This will allow you to protect the property youre renting out. For additional peace of mind, consider requesting a security deposit as well.

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 a few of the passive income strategies above so you can begin working and making more money while you sleep now.

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Years ago, I recall deciding, that I did not want my spouse to feel as though she"had to" go to work when she didnt want to.

Then, thinking it was my only option, I attempted to figure out how I'd 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 make sure we can 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 seem 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 keep up this with every new baby and/or expense we had We had been hoping to have 3 children someday. Because of this, our many discussions about finances began making the future seem more and more stressful. Anxiety started setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my world was turned upside down.

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Gone were the days where I'd 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 be better NOW! Or at least within the next couple of years. I also wanted my life to continue getting better every month and each year.

Before you make any assumptions, the publication was not a get rich fast scheme. In fact, it was a book about patience more get redirected here than anything. Patience with a plan 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 dad 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 father with all the 6-figure paycheck was that the"poor dad" in the book. .

The wealthy dad lived a relatively stress-free life in which he created methods to make use useful source of him, while the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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The rich dad let me understand, all I needed to do is get 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 for a pay bump or waiting one more year to get our bi-monthly paycheck to increase by 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 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.