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This will allow you to protect the property youre renting out. For additional peace of mind, consider requesting a security deposit as well.

As you can see there are a ton of ways which you can make passive income. Hopefully, this record has helped you narrow down which source of income is most effective 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 start working less and making more money as you sleep today.

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Joining the Fundrise Platform neither constitutes an indication of interest in any offering nor involves any obligation or commitment of any kind. .

 

 

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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 family expenses if we had a baby. After all, I wanted to begin saving for her or his college.

Don't forget saving for retirement! My wife and I wanted to ensure we could tell all the other military families we had a solid TSP and Roth IRA for our future old-selves. We didn't want to appear financially uneducated.

 

 

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However, something did not feel appropriate. 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 3 children someday. As a result, our various discussions about finances began making the future look 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 drive from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next several 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 interest of compound interest and wait patiently until I turned 59.5 or even 65 to spend any Get the facts of it.

I wanted my life to become better NOW! Or at least within the next several years. Moreover, I wanted my life to continue getting better every month and every year.

 

 

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Before you make 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 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 degree, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another daddy didnt possess a college diploma, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

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

The wealthy dad lived a comparatively stress-free life in which he created methods to work for him, while the poor dad constantly found himself pouring over his receipts and family spending spreadsheets.

 

 

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The wealthy dad helped me understand, all I needed to do would be get more paychecks. Paychecks that 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 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 bulge or waiting one more year to get our bi-monthly paycheck to increase with 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 that the book asking me: what if you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.

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