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This can help you to protect 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 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 approaches above so that you can start working less and making more money while you sleep today.

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Years ago, I remember deciding, that I did not want my wife to feel as though 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 school.

Don't forget saving for retirement! My wife and I wanted to ensure we could tell all the other military families that we had a good TSP and Roth IRA to our future 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 keep up this with each new baby and/or expense we had We had been hoping to have three children someday. Because of this, our various discussions about finances started 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. During the next few hours in my Automobile University, my entire 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 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 why not try here wanted my life to continue getting better every month and each year.

Before you make 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 plan and a mindset focused on cash flow and resources 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. Another daddy didnt possess 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 the"poor dad" in the book. .

The rich dad lived a comparatively stress-free lifetime in which he created systems to make use of himwhile the poor dad constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad helped me realize, all I needed to do is get more paychecks. Paychecks that 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 for a cover bulge or look at here now waiting one more year to get our bi-monthly paycheck to increase with a gloomy 2.5%.

We maintain my link 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.