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This will 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 most effective for you.

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If youre tired of this traditional means of making money, implement some of the passive income strategies above so that you can begin working and making more money while you sleep now.

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Years ago, I remember deciding, 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 figure 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 college.

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

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

How were we supposed to keep up this with each new baby and/or expense we had We were hoping to have three children . Because of this, our many discussions about finances began making the future seem 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 world was turned upside down.

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Gone would be 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 become better NOW! Or at least within the next couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Before you make any assumptions, the book was not a get rich fast 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 liabilities.

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Rich Dad Poor Dad tells a story about a man with 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 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 wealthy dad lived a comparatively stress-free lifetime in which he made systems to make use of him, while 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 more paychecks. Paychecks that I didn't work for on a day-to-day 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 army, it means doing everything we this post can to reach 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 more money.

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