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This will help you to guard the property youre renting out. For additional peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways that you can earn passive income. With luck, this list has helped you narrow down which source of income is most effective for you.

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

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Years ago, I recall 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 work out how I'd cut down our family expenses when we had a baby. After all, I wanted to start saving for her or his school.

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

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But something did not feel right. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to keep this up with each new baby and/or expense we had We had been hoping to have 3 children . As a result, our many 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 drive from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next few 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 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 several years. I also wanted my life to continue getting better every 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 just two fathers: his pop over here own and his best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another 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 additional hints the book. .

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

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The rich dad helped me realize, all I needed to do would be get much more paychecks. Paychecks that 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 reach the next rank for a pay bulge or waiting one more year to get our bi-monthly paycheck to increase with a sad 2.5%.

We keep trading see 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 mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.