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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 which you can earn passive income. With luck, this list has helped you narrow down which source of income is best for you.

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If youre tired of this traditional way of making money, implement a few of the passive income strategies above so you can start working less and making more money while you sleep today.

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Years ago, I remember deciding, that I did not want my wife 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 when we had a baby. After all, I wanted to start saving for his or her college.

Don't overlook saving for retirement! My spouse and I wanted to make sure we could tell each of the other military families that we had a solid TSP and Roth IRA to our prospective 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 had been forcing some tough conversations between my wife and I.

How were we supposed to keep this up with every new baby and/or expense we had We had been hoping to have three children . As a result, our various discussions about finances started making the future seem 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 driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. During click site 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 patiently 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 each month and every year.

Before visit this page you make any assumptions, the book 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 resources rather 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 best friends. His dad 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 have a college degree, 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 comparatively stress-free lifetime in which he created systems to make use of himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending spreadsheets.

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The wealthy dad helped me understand, all I needed to do is get more paychecks. Paychecks I didn't work for on a day-to-day basis.

The majority of us develop 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 have 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 felt the book asking me: what should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.