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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 that you can earn 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 the traditional way of making money, implement a few of the passive income approaches above so that 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 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 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 wife and I wanted to make sure we could 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 tough conversations between my wife and I.

How were we supposed to maintain up this with every new baby and/or expense we had We had been hoping to have three children . As a result, our many discussions about finances began making the future look 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. 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 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 become better NOW! Or at least within his comment is here the next several decades. I also wanted my life to continue getting better every month and every year.

Before you make any assumptions, the book was not a get rich quick scheme. In fact, it was a novel 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 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 father didnt have a college diploma, lived 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 book. .

The wealthy dad lived a relatively stress-free lifetime in which he created methods to work for himwhile the poor daddy constantly found himself pouring over his receipts and family spending clocks.

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The rich dad helped me realize, all I needed to do is get much more paychecks. Paychecks 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 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 sad 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 if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.