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This can allow you to protect the property youre renting out. For extra peace of mind, consider requesting a security 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 best for you.

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If youre tired of this traditional way of making money, implement a few of the passive income approaches above so that you can start working and making more money as you sleep now.

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Years ago, I recall deciding, I did not want my wife to feel like she"needed to" go to work when she didnt want to.

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

Don't overlook saving for retirement! My spouse and I wanted to ensure we could tell all the other military families we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to seem 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 up this with each new baby and/or expense we had We had been hoping to have 3 children . Because of this, our various discussions about finances began making the future seem more and more stressful. Anxiety began setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next few hours in my Automobile University, my entire 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 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next several years. I also wanted my life to continue getting better each month and every year.

Prior to making any assumptions, the publication 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 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 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 father with the 6-figure paycheck was that the"poor dad" in the book. .

The rich dad lived a comparatively stress-free life in which he created methods to make use of himwhile the inadequate dad constantly found himself pouring over his receipts and family spending spreadsheets.

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

The majority of us grow up focusing Resources 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 cover bump or waiting one more year to get our bi-monthly paycheck to increase with a gloomy 2.5%.

We maintain 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's the question I felt the book asking me: what if you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.