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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 as well.

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

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Years ago, I remember deciding, I did not want my wife to feel like she"needed to" go to work when she didnt want to.

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

Don't forget saving for retirement! My wife and I wanted to ensure we can 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 seem financially uneducated.

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However, something did not feel right. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

How were we supposed to maintain up this with every new baby and/or expense we had We had been hoping to have three children someday. As a result, our many discussions about finances started making the future seem more and more stressful. Anxiety visit here began 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. During 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 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 decades. 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 check 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 father didnt possess a college diploma, 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 book. .

The rich dad lived a relatively stress-free life in which he made web link 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 understand, all I needed to do would be get much more paychecks. Paychecks that I didn't work for on a day-to-day basis.

The majority of us develop 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 military, it means doing everything we can to get to the next rank for a cover bulge or waiting one more year to have our bi-monthly paycheck to increase with 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 that the book asking me: what should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.