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This can allow you to protect 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 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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So if youre tired of the traditional way of making money, implement a few of the passive income approaches above so you can start 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 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 if we had a baby. After all, I wanted to start saving for his or her college.

Don't overlook saving for retirement! My spouse and I wanted to ensure we could tell each of the other military families 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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However, something did not feel appropriate. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to maintain this up 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 began 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. During 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 would save money for the interest 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 every year.

Prior to making any assumptions, the publication was not a get rich quick scheme. In reality, it was a book about patience more 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 just 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 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 the"poor dad" in the book. .

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

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The rich dad helped me understand, all I our website needed to do would be get much more paychecks. Paychecks I didn't work for on a day-to-day basis.

Most 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 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 is the question I felt that the book asking me: what should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.