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This can allow 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 best for you.

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If youre tired of this traditional means of making money, implement some 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 recall deciding, I did not want my spouse to feel as though she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I attempted to work out how I'd cut down our household expenses when we had a baby. After all, I wanted to start saving for her or his college.

Don't forget saving for retirement! My spouse and I wanted to ensure we can tell each of the other military families we had a good TSP and Roth IRA to our prospective old-selves. We didn't want to seem financially uneducated.

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However, 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 up this 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 began setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that 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 entire world was turned upside down.

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Gone would be the days where I would 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 couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the book 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 my website 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 two fathers: his own and his very best friends. His father 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 diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan. hop over to these guys

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

The wealthy dad lived a relatively stress-free lifetime in which he made systems to make use of him, while the inadequate dad constantly found himself pouring over his receipts and household spending spreadsheets.

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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 army, it means doing everything we can to reach the next rank to get a pay 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 sensed that the book asking mewhat if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.