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This can allow you to protect the property youre renting out. For extra 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. Hopefully, this record 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 strategies above so you can start working less and making more money as you sleep today.

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Years ago, I remember deciding, that I did not want my spouse to feel like she"needed to" go to work if she didnt want to.

Then, thinking it was my only option, I attempted to work 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 wife and I wanted to make sure we could tell each of the other military families we had a solid TSP and Roth IRA for our prospective old-selves. We didn't want to appear financially uneducated.

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However, something did not feel appropriate. My thought process seemed counterintuitive and it had been 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 his response a result, our various discussions about finances started making the future look more and more stressful. Anxiety Check Out Your URL started setting in.

I saw 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. Over the next several hours in my Automobile University, my 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 even 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next couple of years. I also wanted my life to continue getting better each month and every year.

Before you make any assumptions, the book was not a get rich 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 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 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 daddy didnt have a college diploma, lived 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 publication. .

The rich dad lived a relatively stress-free life in which he made methods to make use of himwhile the poor daddy constantly found himself pouring over his receipts and family spending clocks.

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The rich dad let me realize, all I needed to do would be get much more paychecks. Paychecks I didn't work for on a day-to-day 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 military, it means doing everything we can to reach the next rank to get a cover bulge or waiting one more year to have our bi-monthly paycheck to increase with a gloomy 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 sensed that the book asking mewhat if you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.