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This will allow you to guard the property youre renting out. For extra peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways which you can earn passive income. With luck, this list 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 some of the passive income strategies above so you can start working and making more money while you sleep now.

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Years ago, I remember deciding, that I did not want my wife to feel like she"had 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 household expenses if we had a baby. After all, I wanted to begin saving for her or his school.

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

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But something did not feel appropriate. My thought process seemed counterintuitive and it had been forcing some difficult conversations between my wife and I.

How were we supposed to maintain up this with every new baby and/or expense we had We had been hoping to have three children . As a result, our many discussions about finances started making the future look more and more stressful. Anxiety began setting in.

I saw 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 few hours in my Automobile University, my entire 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 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 couple of decades. Moreover, I wanted my life to continue getting better every month and every year.

Prior to making any assumptions, the book more tips here 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 Discover More Here 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 father didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father 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 family spending spreadsheets.

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

Most 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 military, it means doing everything we can to get to the next rank for a pay bulge 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 go now more money.

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Here is the question I felt that the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.