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This can help you to protect 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 earn 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 this traditional way of making money, implement a few of the passive income strategies above so you can start working and making more money as you sleep today.

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Years ago, I remember deciding, that I did not want my spouse to feel like she"had 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 family 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 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 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 keep this up with each new baby and/or expense we had We were hoping to have 3 children . As a result, our various discussions about finances started making the future look more and more stressful. Anxiety started setting in.

I watched the book, Rich 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 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 even 65 to spend any of it.

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

Before you make any assumptions, the book was not a get rich quick scheme. In fact, 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 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 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, dwelt 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 publication. .

The wealthy dad lived a relatively stress-free lifetime in which he made systems to work for him, while the poor 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 is get more paychecks. Paychecks that 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 precious time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to reach the next rank for a cover bulge 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's the question I sensed the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.