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

As you can see there are a ton of ways which you can earn passive income. With luck, this record has helped you narrow down which source of income is best for you.

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So if youre tired of the traditional way of making money, implement some of the passive income strategies above so you can begin working less and making more money as you sleep now.

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Years ago, I remember deciding, I did not want my wife to feel as though 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'd cut down our family expenses if we had a baby. After all, I wanted to begin saving for her or his college.

Don't forget saving for retirement! My spouse and I wanted to ensure we can tell each of 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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However, something did not feel appropriate. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

How were we supposed to maintain this up with every new baby and/or expense we had We were hoping to have 3 children someday. Because of this, our many discussions about finances started making the future seem more and more stressful. Anxiety 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. Over the next several hours in my Automobile University, my entire world was turned upside down.

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Gone would be the days where I would save money for the sake of compound interest and wait patiently 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 every year.

Prior to making any assumptions, the book was not a get rich fast scheme. In reality, it was a novel visit the site about patience more than anything. Patience with a strategy 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 two fathers: his own and his very best friends. His father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has 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 father with the 6-figure paycheck was the"poor dad" in the publication. .

The rich dad lived a relatively stress-free lifetime in which he created methods to make use of him, while the inadequate daddy constantly found himself pouring over his receipts and household spending spreadsheets.

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The rich dad let me realize, all I needed to do is get much more paychecks. Paychecks that 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 reach the next rank to get a pay bump or waiting one more year to get 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 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.