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This can 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 most effective for you.

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If youre tired of this traditional way of making money, implement a few of the passive income approaches above so you can begin working and making more money while you sleep today.

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

Then, thinking it was my only option, I attempted to figure out how I would cut down our family expenses if 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 could tell each of the other military families we had a good TSP and Roth IRA to our future old-selves. We didn't want to seem financially uneducated.

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But something did not feel appropriate. My thought process seemed counterintuitive and it had been 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 had been hoping to have 3 children someday. Because of this, our many discussions about finances began making the future seem more and more stressful. Anxiety started setting in.

I saw 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 entire 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 couple of years. I also wanted my life to continue getting better each month and every year.

Prior to making any assumptions, the book was not a get rich quick scheme. In fact, 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 liabilities.

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Rich Dad Poor Dad tells a story about a man with just 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. 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 father with all the 6-figure paycheck was that the"poor dad" in the publication. .

The wealthy dad lived a comparatively stress-free life in which he made systems to work for him, while the poor daddy constantly found himself pouring over his receipts and family spending clocks.

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

Most of us develop 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 army, it means doing everything Click This Link we can to get to the next rank to get a cover bump or waiting one helpful resources more year to get 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 felt the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.