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

As you can see there are a ton of ways that you can make passive income. With luck, 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 spouse to feel like she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I attempted to work out how I'd cut down our household expenses when we had a baby. After all, I wanted to start saving for his or her college.

Don't forget saving for retirement! My wife and I wanted to ensure we can 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 appear financially uneducated.

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

How were we supposed to keep this up with every new baby and/or expense we had We were hoping to have 3 children . As a result, 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 that I had a 13-hour driveway 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 were the days where I would 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 become better NOW! Or at least within the next several years. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the publication was not a get rich fast scheme. In reality, it was a book about patience more than anything. Patience with a plan 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 best friends. His dad 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 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 the"poor dad" in the publication. .

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

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The rich dad let me understand, all I needed to do would look here be get much more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority 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 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 that the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.