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

As you can see there are a ton of ways which you can make passive income. Hopefully, this list has helped you narrow down which source of income is best for you.

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If youre tired of the traditional means of making money, implement a few of the passive income approaches above so you can begin working and making more money while you sleep today.

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Years ago, I recall deciding, I did not want my wife 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 would cut down our family expenses if we had a baby. After all, I wanted to start saving for her or his college.

Don't overlook saving for retirement! My wife and I wanted to ensure we can tell all the other military families we had a good TSP and Roth IRA for our prospective 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 every new baby and/or expense we had We had been hoping to have three children . As a result, our various 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 driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next few hours in my Automobile University, my world was turned upside down.

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Gone were the days where I'd save money for the sake of compound interest and wait patiently until I turned 59.5 or 65 click to read more 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 book was not a get rich quick scheme. In fact, it was a novel about patience more than anything. Patience with a strategy 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 two fathers: his own and his very best friends. His dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. The other father didnt have a college degree, 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 the publication. .

The wealthy dad lived a relatively stress-free life in which he created methods to make use of himwhile the poor dad constantly found himself pouring over his receipts and family spending spreadsheets.

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The rich dad let me understand, all I needed to do is get more paychecks. Paychecks I didn't work for on an everyday basis.

Most 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 to get a cover bulge or waiting one more year to get our bi-monthly paycheck to increase with a gloomy 2.5%.

We keep 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 should you, Markian, spent your free time creating something which websites would continuously send you checks on a monthly basis.