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

As you can see there are a ton of ways which 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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So if youre tired of the traditional way of making money, implement some of the passive income approaches above so you can begin working and making more money while you sleep now.

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

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

Don't overlook saving for retirement! My wife and I wanted to make sure we can tell each of the other military families that we had a solid 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 appropriate. 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 each new baby and/or expense we had We had been hoping to have three children . As a result, our many discussions about finances began making the future seem more and more stressful. Anxiety started setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that I had a 13-hour drive from Pensacola, FL to New River, NC after graduating you can find out more Naval Flight School. During the next several 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 years. I also 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 reality, it was a novel about patience more than anything. Patience with a strategy 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 two fathers: his own and his best friends. His father has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and contains 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 the 6-figure paycheck was that the"poor dad" in the book. .

The wealthy 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 family spending clocks.

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The rich dad helped me understand, all I needed to do would be get 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 military, it means doing everything we can to reach the next rank to get a pay bulge or waiting one more year to get 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 felt the book asking mewhat if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.