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This can help 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 make 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 way of making money, implement some of the passive income approaches above so that you can start working and making more money while you sleep now.

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Years ago, I recall deciding, that 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 attempted to work out how I would 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 wife and I wanted to ensure we can tell each of 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 right. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

How were we supposed to discover this keep this up with every new baby and/or expense we had We had been hoping to have 3 children . As a result, our various discussions about finances started 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. Over the next several hours in my Automobile University, my world was turned upside down.

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Gone would be the days where I'd save money for the sake of compound interest and wait 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 each year.

Before you make 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 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 daddy didnt possess 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 the"poor dad" in the book. .

The rich dad lived a relatively stress-free life in which he created methods to work for himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad let me understand, all I needed to do would be get much more paychecks. Paychecks I didn't work for on an everyday basis.

The majority 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 get to the next rank to get a cover bump or waiting one more year to have our bi-monthly paycheck to increase with a sad 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 sensed the book asking me: what should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.