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This can allow you to protect the property youre renting out. For extra 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 best for you.

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So if youre tired of the traditional way of making money, implement a few of the passive income strategies above so that you can start working and making more money while you sleep today.

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Years ago, I recall deciding, I did not want my spouse to feel as though she"had to" go to work if she didnt want to.

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

Don't overlook saving for retirement! My wife and I wanted to make sure we can tell each of the other military families 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 right. 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 3 children . Because of this, our many discussions about finances started 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 Check This Out 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 would save money for the interest of compound interest and wait until I turned 59.5 or even 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next several decades. I also 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 fact, it was a novel about patience more than anything. Patience with a plan and a mindset focused on cash flow and resources rather than loans wikipedia reference on liabilities.

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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 father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another father didnt have 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 the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free Web Site lifetime in which he made methods to work for him, while the inadequate daddy constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad helped me realize, 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 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 to get a pay bump 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 is the question I sensed the book asking mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.