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This can help 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 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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So if youre tired of this traditional way of making money, implement a few of the passive income approaches above so you can start working and making more money while you sleep now.

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Years ago, I recall deciding, I did not want my wife to feel as though she"needed to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to figure out how I would cut down our family expenses when we had a baby. After all, I wanted to start saving for her or his school.

Don't forget saving for retirement! My wife and I wanted to make sure we can tell each of the other military families we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to seem financially uneducated.

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

How were we supposed to maintain this up with each new baby and/or expense we had We were hoping to have three children someday. As from this source a result, our many discussions about finances started making the future look more and more stressful. Anxiety began 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 several hours in my Automobile University, my entire world was turned upside down.

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Gone would be the days where I'd save Read Full Article 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. I also wanted my life to continue getting better every month and each year.

Before you make 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 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 dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other daddy didnt have a college degree, lived 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 relatively stress-free life in which he created methods to work for himwhile the inadequate dad constantly found himself go to my blog pouring over his receipts and family spending clocks.

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The wealthy dad let me realize, all I needed to do is get much more paychecks. Paychecks I didn't work for on a day-to-day basis.

Most 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 for a pay bump or waiting one more year to have our bi-monthly paycheck to increase by a sad 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 sensed that the book asking me: what should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.