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This can allow you to guard the property youre renting out. For extra peace of mind, consider requesting a safety deposit as well.

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

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If youre tired of the traditional way of making money, implement some of the passive income approaches above so you can start working and making more money while you sleep today.

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Years ago, I recall deciding, that I did not want my wife to feel as though she"needed to" go to work when 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 start saving for her or his school.

Don't forget saving for retirement! My wife and I wanted to make sure we can tell all the other military families that we had a solid TSP and Roth IRA for our prospective old-selves. We didn't want to appear 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 had been hoping to have three children . As a result, our various discussions about finances began making the future look more and more stressful. Anxiety started setting in.

I saw 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. Over the next few hours in my Automobile University, my world was turned upside down.

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Gone were the days where I'd save money for the interest of compound interest and wait patiently until I turned 59.5 or 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next couple of decades. I also wanted my life to continue getting better every month and every year.

Before you make any assumptions, the publication was not a get rich fast scheme. In reality, it was a novel 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 just two fathers: his own and his very 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 possess a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

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

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

The majority of us develop focusing on how get redirected here 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 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 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.