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This can help you to guard the property youre renting out. For additional 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 list has helped you narrow down which source of income is best for you.

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If youre tired of this traditional means of making money, implement some of the passive income approaches above so that you can begin working less and making more money while you sleep now.

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

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

Don't overlook saving for retirement! My spouse and I wanted to make sure we could tell all the other military families that 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 appropriate. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to keep this up with every new baby and/or expense we had We had been hoping to have 3 children . Because of this, our many discussions about finances began making the future seem 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 driveway 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 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 the next several years. Moreover, I 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 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 obligations.

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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 dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy didnt possess a college diploma, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father with the 6-figure paycheck was that the"poor dad" in the publication. .

The rich dad lived a comparatively 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 visit their website wealthy dad let me understand, all I needed to do would be get more paychecks. Paychecks that I didn't work for on an everyday 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 bulge or waiting one more year to have our bi-monthly paycheck to increase with 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 is the question I felt the book asking me: what should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.