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

As you can see there are a ton of ways which 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 the traditional means of making money, implement a few of the passive income strategies above so that you can start working and making more money as you sleep now.

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Years ago, I recall deciding, that 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 figure out how I would cut down our family expenses when we had a baby. After all, I wanted to begin saving for his or her college.

Don't overlook saving for retirement! My spouse and I wanted to ensure we can 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 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 up this with each new baby and/or expense we had We had been hoping to have three children . Because of this, our various 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. Over 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'd save money for the interest of compound interest and wait patiently until I turned 59.5 or even 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of years. Moreover, I wanted my life to Read Full Article continue getting better every month and every year.

Before you make any assumptions, the publication was not a get rich quick scheme. In reality, 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 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. The other daddy didnt possess a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

The wealthy dad lived a comparatively stress-free life in which he created systems check over here to make use of himwhile the inadequate dad constantly found himself pouring over his receipts and household spending spreadsheets.

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The rich dad let me understand, all I needed to do is get more paychecks. Paychecks I didn't work for on an everyday basis.

Most 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 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 felt the book asking mewhat if you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.