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This can allow you to guard 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 which you can make passive income. With luck, this record has helped you narrow down which source of income is best for you.

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So if youre tired of this traditional way of making money, implement some of the passive income strategies above so you can begin working less and making more money as you sleep now.

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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 when she didnt want to.

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

Don't overlook saving for retirement! My wife and I wanted to make sure we could tell each of the other military families that we had a solid TSP and Roth IRA for our prospective old-selves. We didn't want to seem financially uneducated.

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But something did not feel appropriate. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

How were we supposed to keep up this with each new baby and/or expense we had We had been hoping to have three children . As a result, our various discussions about finances started 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 that I had a 13-hour driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next few hours in my Automobile University, my entire 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. I also wanted my life to continue getting better each month and every year.

Before you make 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 strategy 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 has a 401k, but struggles month-to-month financially. The other father didnt have a college degree, 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 that the"poor dad" in the publication. .

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

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The rich dad let me understand, all I needed to do is 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 valuable time for money and striving valiantly to increase our hourly rate.

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

We keep trading our time for money even though time is the only thing we can't Extra resources earn more of... we can always earn more money.

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