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This will allow 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 list has helped you narrow down which source of income is most effective for you.

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So if youre tired of this traditional way of making money, implement a few of the passive income strategies above so that you can start working and making more money while you sleep now.

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

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

Don't forget saving for retirement! My wife and I wanted to make sure we could tell each of the other military families that 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 . As a result, 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 try this web-site that I had a 13-hour driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my entire world was turned upside down.

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Gone were the days where I would save money for the sake 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 several decades. Moreover, I wanted my life to continue getting better each 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 plan and a mindset focused on cash flow and assets 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 best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other daddy didnt possess a college diploma, dwelt 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 Learn More the publication. .

The rich dad lived a comparatively stress-free lifetime in which he made systems to work for himwhile the inadequate dad constantly found himself pouring over his receipts and family spending spreadsheets.

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The wealthy dad helped me realize, 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 valuable 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 bump or waiting one more year to get our bi-monthly paycheck to increase with a gloomy 2.5%.

We maintain trading our time you can find out more 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's the question I sensed that the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.