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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 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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If youre tired of the traditional way of making money, implement a few of the passive income strategies above so you can begin working less and making more money as you sleep today.

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Years ago, I recall deciding, 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 attempted to figure 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 school.

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 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 tough 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 a result, our various discussions about finances started 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 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 would save money for the interest of compound interest and wait patiently 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 every month and every year.

Before you make any assumptions, the book was not a get rich quick scheme. In fact, 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 obligations.

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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 have a college diploma, 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 comparatively stress-free life in which he made methods to work for himwhile the inadequate dad constantly found himself pouring over his receipts and family spending spreadsheets.

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The wealthy dad let me realize, all I needed to do is get much more paychecks. Paychecks I didn't work for on an everyday 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 click to investigate 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 sensed the book asking mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.