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This will allow you to protect 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 that you can make 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 strategies above so that you can start working less and making more money while you sleep today.

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Years ago, I remember deciding, that I did not want my spouse 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 work 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 forget saving for retirement! My spouse and I wanted to ensure we can tell each of the other military families 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 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 had been hoping to have three children . Because of this, our various discussions about finances began making the future seem more and more stressful. Anxiety started setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and 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 interest of compound interest and wait 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. I also wanted my life to continue getting better every month and every 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 resources 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 very best friends. His father 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 degree, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the see here dad with the 6-figure paycheck was the"poor dad" in the publication. .

The rich dad lived a comparatively stress-free life in which he made systems to make use of himwhile the inadequate daddy constantly found himself pouring over his receipts and family spending spreadsheets.

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The wealthy dad let 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.

Most 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 military, it means doing everything we can to get to the next rank for a pay bump or waiting one more year to have our bi-monthly paycheck to increase by 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 sensed that the book asking mewhat should you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.