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This can allow you to guard 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 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 means of making money, implement a few 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 remember deciding, that I did not want my spouse to feel as though she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to figure out how I'd cut down our household expenses if we had a baby. After all, I wanted to start saving for her or his school.

Don't overlook saving for retirement! My spouse and I wanted to ensure we can tell all the other military families 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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However, 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 maintain this up with each new baby and/or expense we had We were hoping to have 3 children . As a result, our many discussions about finances began making the future look more and more stressful. Anxiety began setting in.

I saw 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 several hours in my Automobile University, my entire world was turned upside down.

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Gone would be the days where I'd save money for the interest of compound interest and wait patiently until I turned 59.5 or check out this site 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next couple of decades. 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 hop over to these guys quick scheme. In reality, it was a book about patience more than anything. Patience with a strategy and a mindset focused on cash flow and resources read more rather than loans on liabilities.

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Rich Dad Poor Dad tells a story about a man with just two fathers: his own and his best friends. His father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy didnt have a college degree, lived 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" in the publication. .

The rich dad lived a relatively stress-free lifetime in which he created methods to work for himwhile the poor daddy 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 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 military, it means doing everything we can to get to the next rank for a pay 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 free time creating something that would continuously send you checks on a monthly basis.