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

As you can see there are a ton of ways which 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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So if youre tired of this traditional means of making money, implement some of the passive income approaches above so you can begin working and making more money while you sleep today.

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Years ago, I remember 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 attempted to work out how I'd cut down our family expenses when we had a baby. After all, I wanted to begin saving for her or his school.

Don't overlook saving for retirement! My wife and I wanted to ensure we can tell each of the other military families that we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to appear 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 keep this up with each new baby and/or expense we had We were hoping to have 3 children someday. Because of this, our various discussions about finances started making the future look more and more stressful. Anxiety you could try here started 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 world go now was turned upside down.

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Gone were the days where I would 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 each month and every year.

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Before you make any assumptions, the publication was not a get rich quick scheme. In fact, it was a novel about patience more than anything. Patience with a strategy and a mindset focused on cash flow and resources 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 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 degree, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with the 6-figure paycheck was that the"poor dad" in the publication. .

The wealthy dad lived a relatively stress-free life in which he created systems to make use of himwhile the inadequate dad constantly found himself pouring over his receipts and household spending clocks.

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The rich dad helped me understand, all I needed to do is get much more paychecks. Paychecks that I didn't work for on a day-to-day 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 army, it means doing everything we can to get to the next rank to get a pay bump or waiting one more year to have our bi-monthly paycheck to increase by 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 mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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