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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 earn passive income. With luck, this list 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 way of making money, implement a few of the passive income strategies above so you can start working less and making more money as you sleep now.

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

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

Don't forget saving for retirement! My spouse 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 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 three children someday. As a result, our various discussions about finances began 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 that I had you could try here a 13-hour driveway from Pensacola, FL 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 would be the days where I'd save money for the sake of compound interest and wait 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 several decades. I also wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the publication was not a get rich fast scheme. In reality, it was a book 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 just two fathers: his you can look here own and his 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. Another father didnt possess a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

The wealthy dad lived a relatively stress-free lifetime in which he made systems to make use of him, while the inadequate dad constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad let 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.

Most of us grow up 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 army, it means doing everything we can to reach the next rank for a cover bulge or waiting my link 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 me: what if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.