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This can help 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 which you can earn passive income. With luck, this list 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 some of the passive income strategies above so you can start working less and making more money as you sleep now.

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

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

Don't overlook saving for retirement! My wife and I wanted to ensure we could tell each of the other military families we had a solid TSP and Roth IRA to our future 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 tough 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 three children someday. 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 driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next several hours in my Automobile link University, my entire 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 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. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the book was not a get rich fast scheme. In reality, it was a novel about patience more than anything. Patience with a strategy and a mindset focused on cash flow and assets rather than loans on liabilities.

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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 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 the"poor dad" in the publication. .

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

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The rich 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 grow up focusing on how much we earn per hour. Constantly trading our precious time for money and striving find this valiantly to increase our hourly rate.

In the army, it means doing everything we can to reach the next rank to get a cover 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 resource of... we can always earn more money.

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Here's the question I felt the book asking mewhat if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.