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This can allow 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 which you can earn passive income. Hopefully, this list has helped you narrow down which source of income is best for you.

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

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Years ago, I remember deciding, that I did not want my spouse to feel like 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 ensure we could tell each of the other military families that we had a good TSP and Roth IRA to our prospective old-selves. We didn't want to appear financially uneducated.

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But 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 every new baby and/or expense we had We had been hoping to have three children someday. As a result, our many anchor discussions about finances began making the future look more and more stressful. Anxiety began setting in.

I saw 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 Naval Flight School. During the next few hours in my Automobile University, my 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 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 couple of decades. Moreover, I wanted my life to continue getting better every month and each year.

Before you make any assumptions, the book was not a get rich fast scheme. In fact, it was a novel 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 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 father didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the father with all the 6-figure paycheck was that the"poor dad" in the publication. .

The rich dad lived a relatively stress-free life in which he made methods to work for himwhile the inadequate dad constantly found himself pouring over his receipts and family spending clocks.

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The wealthy dad let me realize, all I needed to do would be get much more paychecks. Paychecks that I didn't work for on a day-to-day basis.

Most of us grow up focusing on how useful link 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 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 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 felt that the book asking me: what should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.