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This will 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 most effective for you.

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So if youre tired of the traditional way of making money, implement some of the passive income strategies above so that you can start working less and making more money while you sleep now.

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Years ago, I recall 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 household 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 each of the other military families that we had a solid TSP and Roth IRA for our prospective 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 someday. Because of this, our many 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 that 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 interest 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 you could look here NOW! Or at least within the next several decades. Moreover, I wanted my life to continue getting better each month and each year.

Before you make any assumptions, the book was not a get rich quick scheme. In reality, it was a book about patience more than anything. Patience with a plan and her latest blog 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 just two fathers: his own and his best friends. His dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other daddy didnt have a college diploma, dwelt 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 rich dad lived a comparatively stress-free lifetime in which he created methods to work for himwhile the poor dad constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad helped 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.

The majority 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 get to the next rank to get a pay bump or waiting one more year to get our bi-monthly paycheck to increase with a sad 2.5%.

We maintain 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 the book asking mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.