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This will allow you to guard the property youre renting out. For additional peace of mind, consider requesting a security deposit as well.

As you can see there are a ton of ways that you can earn passive income. Hopefully, this list 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 approaches above so that you can begin working less and making more money while you sleep now.

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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 work out how I would cut down our family expenses if we had a baby. After all, I wanted to begin saving for her or his college.

Don't forget saving for retirement! My wife and I wanted to make sure we can tell all the other military families we had a good TSP and Roth IRA to our future old-selves. We didn't want to seem financially uneducated.

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But something did not feel appropriate. 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 . Because of this, our many discussions about finances started making the future look more and more stressful. Anxiety started read this article setting in.

I saw 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 several 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 be better NOW! Or at least within the next couple of decades. I also wanted my life to continue getting better every month and each year.

Before you make any assumptions, the publication was not a get rich fast scheme. In reality, it was a novel 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 just two fathers: his own and his very best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another father didnt have 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 rich dad lived a comparatively stress-free life in which he made methods 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 understand, all I needed to do would be get more paychecks. Paychecks that I didn't work for on a day-to-day basis.

Most 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 army, it means doing everything we can to get you can find out more to the next rank for a cover bulge 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 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 should you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.