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This can help you to protect the property youre renting out. For additional peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways that you can make passive income. With luck, this record has helped you narrow down which source of income is best for you.

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

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

Then, thinking it was my only option, I tried to figure out how I would cut down our household expenses if we had a baby. After all, I wanted to begin saving for his or her college.

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

How were we supposed to maintain up this with each new baby and/or expense we had We had been hoping to have three children additional resources someday. Because of this, our many discussions about finances began making the future look more and more stressful. Anxiety began setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. Over 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 sake of compound interest and wait patiently 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 several decades. I also 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 reality, it was a book about patience more than anything. Patience with a plan and a mindset focused on cash flow and assets 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 best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other daddy didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with all the 6-figure paycheck was that the"poor dad" in the publication. .

The rich dad lived a relatively stress-free life in which he made methods 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 let me understand, all I needed to do is get much more paychecks. Paychecks I didn't work for on an everyday 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 cover bump or waiting one more year to have our bi-monthly paycheck to increase by a gloomy 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 sensed that the book asking me: what should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.