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This will help you to protect 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 that you can make passive income. Hopefully, this record has helped you narrow down which source of income is most effective for you.

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So if youre tired of this traditional way of making money, implement some of the passive income approaches above so that you can start working less and making more money while you sleep today.

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Years ago, I remember deciding, 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 tried to figure out how I'd cut down our household expenses if we had a baby. After all, I wanted to start saving for his or her college.

Don't forget saving for retirement! My wife and I wanted to ensure we could tell all the other military families we had a good TSP and Roth IRA for 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 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 . As a result, our various 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 that I had a 13-hour driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next few hours in my Automobile University, my world was turned upside down.

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Gone would be the days where I'd save money for the sake of compound interest and wait patiently until I turned 59.5 or even 65 to spend any of it.

I pop over to this site 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.

Prior to making any assumptions, the book was not a get rich moved here quick scheme. In fact, it was a novel about patience over at this website more than anything. Patience with a strategy 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 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 the 6-figure paycheck was that the"poor dad" in the book. .

The rich dad lived a comparatively stress-free life in which he created methods to make use of him, while the poor dad 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 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 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 pay 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'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.