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This will 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 make passive income. With luck, this record has helped you narrow down which source of income is best for you.

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If youre tired of the traditional way of making money, implement a few of the passive income strategies above so you can start working less 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 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 household expenses if we had a baby. After all, I wanted to start saving for his or her college.

Don't overlook saving for retirement! My wife and I wanted to make sure we could tell all the other military families we had a solid TSP and Roth IRA for our prospective old-selves. We didn't want to seem financially uneducated.

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But 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 maintain up More Info this with each new baby and/or expense we had We were hoping to have 3 children . 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 drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During 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'd 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 be better NOW! Or at least within the next couple of years. 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 book about patience more than anything. Patience with a plan and a mindset focused on cash flow and assets 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 dad has a 6-figure paycheck, a college degree, More hints lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another father didnt possess a college degree, lived 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 relatively stress-free life in which he created systems to work for him, while the poor dad constantly found himself pouring over his receipts and household spending spreadsheets.

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The wealthy dad let me understand, all I needed to do would be get more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority of us develop 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 get to the next rank to get a pay bump or waiting one more year to have our bi-monthly paycheck to increase by 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 that the book asking mewhat if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.