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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 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 most effective for you.

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So if youre tired of the traditional means 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, that I did not want my wife to feel as though she"needed to" go to work when she didnt want to.

Then, thinking it was my only option, I attempted to work out how I would cut down our family expenses when 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 make sure we can tell all the other military families we had a good TSP and Roth IRA for our prospective old-selves. We didn't want to appear financially uneducated.

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But something did not feel appropriate. My thought process seemed counterintuitive and it had been forcing some difficult 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. As a result, 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 would save money for the sake 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 couple of decades. Moreover, I wanted my life to continue getting better each month and every year.

Prior to making any assumptions, the publication was not a get rich fast scheme. In reality, it was a novel about patience more than anything. Patience with a plan and a mindset focused on cash flow and assets rather visit site 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 father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other father didnt possess a college diploma, look at these guys lived 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 life in which he made methods to make use of him, while the poor dad constantly found himself pouring over his receipts and family spending spreadsheets.

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The wealthy dad let me understand, all I needed to do would be get 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 military, it means doing everything we can to get to the next rank for a pay bump or waiting one more year to get 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 sensed the book asking me: what should you, Markian, spent your spare time creating something that would continuously send you checks on More Bonuses a monthly basis.