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This can help you to guard 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 that you can make passive income. With luck, this record has helped you narrow down which source of income is most effective for you.

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If youre tired of the traditional means of making money, implement some of the passive income approaches above so that you can start working less and making more money as you sleep now.

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Years ago, I recall deciding, that I did not want my spouse to feel as though she"needed 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 household expenses when we had a baby. After all, I wanted to begin saving for his or her school.

Don't overlook saving for retirement! My spouse 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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But something did not feel right. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to maintain this up with every new baby and/or expense we had We had been hoping to have 3 children someday. As a result, our many discussions about finances began making the future seem more and more stressful. Anxiety started setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and I had a 13-hour driveway from her response 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'd save money for the interest of compound interest and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next several decades. Moreover, I wanted my life to continue getting better every month and each year.

Prior to making any assumptions, the publication was not a get rich quick scheme. In fact, it was a book about patience more than anything. Patience with a strategy 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 very best friends. His father has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another father didnt possess a college diploma, lived 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 book. .

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

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The wealthy dad helped me understand, all I needed to do is get much more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority of us grow up focusing on how much we earn per hour. Constantly trading our valuable time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to reach the next rank for a cover bulge or waiting one more year to get our bi-monthly paycheck to increase with 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 felt the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.