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This will allow you to guard 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 which 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 this traditional way of making money, implement some of the passive income strategies above so 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"needed to" go to work if she didnt want to.

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

Don't overlook saving for retirement! My wife and I wanted to make sure we could tell each of the other military families that we had a solid TSP and Roth IRA for our future old-selves. We didn't want to seem 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 were hoping to have 3 children someday. Because of this, our many discussions about finances began making the future look more and more stressful. Anxiety began setting in.

I saw 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. 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'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 several years. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the book was not a get rich fast 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 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 father didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, Get More Info the dad with the 6-figure paycheck was that the"poor dad" in the book. .

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

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The rich dad helped me realize, all I needed to do is get much more paychecks. Paychecks 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 precious time for money and striving valiantly to increase our hourly rate.

In the army, it means doing everything we can to reach the next rank for a pay bulge or waiting one more year to have our bi-monthly paycheck to increase by a gloomy 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 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.