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This can allow you to protect 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 which you can make passive income. With luck, 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 means of making money, implement a few of the passive income strategies above so that you can begin working and making more money as 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 attempted to figure out how I'd cut down our household expenses if we had a baby. After all, I wanted to start saving for her or his college.

Don't forget saving for retirement! My spouse and I wanted to ensure we can tell each of the other military families that we had a good 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 was forcing some tough conversations between my wife and I.

How were we supposed to maintain this up with every new baby and/or expense we had We had been hoping to have 3 children . As a result, our various discussions about finances began making the future look more and more stressful. Anxiety began setting in.

I saw the book, Rich site here Dad Poor Dad, in my Audible"Recommended for you" and 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 entire world was turned upside down.

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Gone would be the days where I would save money for the interest of compound interest and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next couple of years. I also wanted my life to continue getting better every month and every year.

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Before you make any assumptions, the publication was not a get rich quick scheme. In reality, it was a book about patience more than anything. Patience with a plan and a mindset focused on cash flow and resources rather than loans on obligations.

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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 degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other daddy didnt possess a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with all the 6-figure paycheck was that the"poor dad" in the publication. .

The rich dad lived a comparatively stress-free lifetime in which he made methods to work for himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending clocks.

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The rich dad let me realize, all I needed to do would be get more paychecks. Paychecks 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 valuable 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 bulge or waiting one more year to get our bi-monthly paycheck to increase with 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 my company money.

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Here is the question I sensed that the book asking me: what should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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