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This can help you to protect the property youre renting out. For extra peace of mind, consider requesting a security deposit as well.

As you can see there are a ton of ways that you can earn 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 this traditional means of making money, implement a few of the passive income strategies above so you can begin 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'd cut down our household expenses when we had a baby. After all, I wanted to begin saving for her or his school.

Don't overlook saving for retirement! My spouse and I wanted to make sure we can tell all the other military families we had a good TSP and Roth IRA to our future old-selves. We didn't want to seem financially uneducated.

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However, something did not feel right. 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 were hoping to have 3 children . As a result, our many discussions about finances began making the future seem more and more stressful. Anxiety began setting in.

I watched 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 my blog 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 interest of compound interest and wait patiently until I turned 59.5 or even 65 to spend any of it.

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

Prior to making any assumptions, the publication was not a get rich fast 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 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 degree, lives in a nice neighborhood, and has a 401k, but More about the author struggles month-to-month financially. Another father didnt have a college diploma, 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 that the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free lifetime in which he made methods to make use of himwhile the inadequate dad constantly found himself pouring over his receipts and family spending clocks.

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The rich dad helped 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.

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 army, it means doing everything we can to get to the next rank to get a cover bulge or waiting one more year to have our bi-monthly paycheck to increase by a sad 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 sensed the book asking me: what if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.