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This can help you to protect 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. 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 approaches above so that you can begin working less and making more money as 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 if 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 start saving for his or her school.

Don't forget saving for retirement! My wife and I wanted to make sure we could tell all the other military families that we had a good TSP and Roth IRA to 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 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 were hoping to have three children . Because of this, our many discussions about finances started 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 that I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. Over 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 become better NOW! Or at least within the next several years. Moreover, I wanted my life to continue getting better each month and every year.

Prior to making 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 liabilities.

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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 degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another father didnt possess a college diploma, 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 made methods to work for himwhile the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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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 an everyday basis.

Most 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 army, it means doing everything we can to reach the next rank for a pay bulge or waiting one more year to have our bi-monthly paycheck to increase by 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 Full Article can always earn more money.

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