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This can help you to protect the property youre renting out. For extra 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. Hopefully, this record has helped you narrow down which source of income is most effective for you.

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If youre tired of the traditional way of making money, implement some of the passive income approaches above so that you can start 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 as though she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to work 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 college.

Don't forget saving for retirement! My spouse and I wanted to ensure we could tell all the other military families that 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 right. My thought process seemed counterintuitive and it was forcing some difficult 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 3 children visit here . As a result, our various discussions about finances started 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. Over the next several hours in my Automobile 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 patiently 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 couple of decades. I also wanted my life to continue getting better every month and every year.

Prior to making any assumptions, the book 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 best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy didnt have 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 publication. .

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

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

Most 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 reach the next rank for a cover bump 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 this website is the question I sensed the book asking mewhat should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.