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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 that you can earn 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 the traditional means of making money, implement a few of the passive income approaches above so that you can begin working less and making more money as you sleep now.

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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 when she didnt want to.

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

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

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

How were we supposed to maintain this up with each new baby and/or expense we had We were hoping to have three children . Because of this, our various discussions about finances began making the future look more and more stressful. Anxiety started setting in.

I watched 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 several hours in my Automobile University, my world was turned upside down.

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Gone were 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 be 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 fast scheme. In fact, 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 liabilities.

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Rich Dad Poor Dad tells a story about a man browse this site 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 has a 401k, but struggles month-to-month financially. The other daddy didnt possess 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 the"poor dad" in the book. .

The wealthy dad lived a relatively stress-free lifetime in which he created systems to make use of himwhile the poor dad constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad helped me realize, all I needed to do is get much more paychecks. Paychecks that I didn't work for on an everyday basis.

Most of us grow up 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 to get a cover bulge or waiting one more year to get our bi-monthly paycheck to increase by a gloomy 2.5%.

We maintain trading our check my source 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 the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.