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This will help you to guard the property youre renting out. For extra peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways which 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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If youre tired of the traditional way of making money, implement a few 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"needed to" go to work when she didnt want to.

Then, thinking it was my only option, I tried to figure 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 school.

Don't overlook saving for retirement! My spouse and I wanted to ensure we could 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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However, 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 up this with every new baby and/or expense we had We were hoping to have 3 children . Because of this, our many discussions about finances started making the future look more and more stressful. Anxiety began setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that 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 world was turned upside down.

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Gone were the days where I would save 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 be better NOW! Or at least within the next several years. I also wanted my life to continue getting better each month and each year.

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 internet 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 dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other 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 all the 6-figure paycheck was the"poor dad" in the book. .

The rich dad lived a comparatively stress-free life in which he created methods to make use of himwhile the poor daddy constantly found himself pouring over his receipts and household spending spreadsheets.

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The wealthy dad helped me realize, all I needed to do would be 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 valuable 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 cover bump or waiting one more year to get 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 is the question I sensed that the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.