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This will help you to protect 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 which 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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So if youre tired of the traditional way of making money, implement a few of the passive income approaches above so you can start working less and making more money while you sleep now.

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Years ago, I remember deciding, I did not want my wife to feel as though she"had 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 family expenses when we had a baby. After all, I wanted to begin saving for his or her school.

Don't forget saving for retirement! My wife and I wanted to ensure we can 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 appropriate. My thought process seemed counterintuitive and it had been forcing some difficult conversations between my wife and I.

How were we supposed to maintain this up with each new baby and/or expense we had We were hoping to have 3 children . Because of this, our various discussions about finances started making the future seem 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 several hours in my Automobile University, my entire world was turned upside down.

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Gone were 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 within the next couple of years. I also wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the publication was not a get rich quick scheme. In fact, it was a novel about patience more than anything. Patience with a plan 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 contains a 401k, but struggles month-to-month financially. The other father didnt possess a college degree, lived 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 relatively stress-free life in which he created systems to make use of him, while the poor dad constantly found himself pouring over his receipts and family spending spreadsheets.

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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.

Most of us develop 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 to get a pay bulge or waiting one more year to get our bi-monthly paycheck to increase by a gloomy 2.5%.

We More hints maintain trading our time for money even though time is the only thing we can't earn more check my source of... we can always earn more money.

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Here's the question I felt that the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.