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

As you can see there are a ton of ways that you can earn passive income. With luck, 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 this traditional way of making money, implement some of the passive income strategies above so that you can begin working less and making more money while you sleep now.

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Years ago, I recall 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 work out how I'd cut down our family expenses when we had a baby. After all, I wanted to start saving for his or her college.

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

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But something did not feel right. My thought process seemed counterintuitive and it had been forcing some difficult conversations between my wife and I.

How were we supposed to keep this up with every new baby and/or expense we had We had been hoping to have 3 children . Because of this, our various discussions about finances started 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 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 entire world was turned upside down.

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Gone would be the days where I'd save money for the interest of compound interest more information 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 years. Moreover, I wanted my life to continue getting better each month and each year.

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Prior to making any assumptions, the publication was not a get rich quick scheme. In reality, it was a book about patience more than anything. Patience with a strategy and a mindset focused on cash flow and assets 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 father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another father didnt possess a college degree, dwelt 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 rich dad lived a comparatively stress-free lifetime in which he made systems to work for him, while the inadequate dad constantly found himself pouring over his receipts and family spending spreadsheets.

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

The majority of us grow up 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 army, it means doing everything we can to reach the next rank to get a cover description bump or waiting one more year to have our bi-monthly paycheck to increase with a sad 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 that the book asking me: what should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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