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This will allow you to guard 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 which you can make passive income. Hopefully, this list 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 some of the passive income approaches above so that you can start working less and making more money while you sleep today.

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Years ago, I remember deciding, 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 tried to work out how I would 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 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 this up with each new baby and/or expense we had We were hoping to have 3 children someday. As a result, our many discussions about finances began making the future seem more and more stressful. Anxiety started 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 Resources New River, NC after graduating Naval Flight School. During the next few 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 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 several 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 fast scheme. In fact, it was a book about patience more than anything. Patience with a plan 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 own and his best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another father didnt have a college diploma, dwelt 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 relatively stress-free life in which he made methods to work for him, while the inadequate daddy constantly found himself pouring over his receipts and household spending clocks.

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

The majority 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 reach the next rank to get a cover bulge 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 the book asking mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.