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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 make passive income. Hopefully, this list has helped you narrow down which source of income is best for you.

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So if youre tired of this traditional means of making money, implement some of the passive income approaches above so you can start working and making more money as you sleep today.

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

Then, thinking it was my only option, I attempted to figure out how I would cut down our family expenses if we had a baby. After all, I wanted to start 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 we had a good TSP and Roth IRA to our future 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 was forcing some tough conversations Learn More between my wife and I.

How were we supposed to keep up this with every new baby and/or expense we had We were hoping to have 3 children . Because of this, our many 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 that 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 world was turned upside down.

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Gone would be the days where I would save money for the interest of compound More Help interest and wait until I turned 59.5 or even 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of years. Moreover, I wanted my life to continue getting better every month and every 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 plan and a mindset focused on cash flow and resources rather than loans on liabilities.

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Rich Dad Poor Dad tells a story about a man with two fathers: the original source 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 daddy 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 that the"poor dad" in the publication. .

The rich dad lived a comparatively stress-free life in which he made methods to make use of himwhile the poor dad constantly found himself pouring over his receipts and household spending clocks.

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

Most 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 get to the next rank for a cover bulge or waiting one more year to get 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 sensed the book asking mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.