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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 too.

As you can see there are a ton of ways that you can earn passive income. Hopefully, this record has helped you narrow down which source of income is best 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 while you sleep today.

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Years ago, I remember deciding, I did not want my wife to feel like she"needed to" go to work if she didnt want to.

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

Don't overlook saving for retirement! My spouse and I wanted to ensure we could 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 appear financially uneducated.

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However, 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 maintain this up 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 started making the future look more and more stressful. Anxiety began setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and 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 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 couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the book 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 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 own and his very 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 have a college degree, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

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

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

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The wealthy dad helped me realize, all I needed to do would be get much more paychecks. Paychecks I didn't work for on an everyday 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 get to the next rank for a pay bump or waiting one more year to have our bi-monthly paycheck to increase by a sad 2.5%.

We keep trading our time for money even though you could try this out 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 felt that the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.