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This can allow you to guard the property youre renting out. For additional peace of mind, consider requesting a safety deposit as well.

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

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If youre tired of this traditional way of making money, implement a few of the passive income strategies above so you can start working 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 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 would cut down our household expenses when we had a baby. After all, I wanted to begin saving for his or her school.

Don't forget saving for retirement! My spouse and I wanted to ensure we can tell all the other military families we had a solid TSP and Roth IRA to 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 was forcing some difficult conversations between my wife and I.

How were we supposed to maintain this up with every new baby and/or expense we had We had been hoping to have three children . As a result, 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 drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several 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 sake of compound interest and wait patiently until I turned 59.5 or 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next couple of years. Moreover, I 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 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 very best friends. His father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains 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 created systems to make use of him, while the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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

The majority 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 a knockout post military, it means doing everything we can to get to the next rank to get a pay bump or waiting one more year to get our bi-monthly paycheck to increase with a gloomy 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 that the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.