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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 record has helped you narrow down which source of income is best for you.

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If youre tired of this traditional way of making money, implement a few of the passive income approaches above so you can start working less and making more money as you sleep today.

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Years ago, I remember deciding, that I did not want my spouse 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 would cut down our household expenses when we had a baby. After all, I wanted to begin saving for his or her school.

Don't overlook saving for retirement! My wife and I wanted to make sure we could 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 appear financially uneducated.

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However, something did not feel right. 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 each new baby and/or expense we had We had been hoping to have three children . Because of this, our various discussions about finances started 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 driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next several hours in my Automobile University, my world was Find Out More turned upside down.

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Gone would be the days where I'd save money for the interest of compound interest and wait patiently 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. I also wanted my life to continue getting better each month and each year.

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Before you make any assumptions, the book was not a get rich fast scheme. In fact, it was a book 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 best friends. His father has a 6-figure paycheck, a college degree, 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 dad with the 6-figure paycheck was the"poor dad" in the book. .

The wealthy dad lived a comparatively stress-free lifetime in which he created methods to make use of himwhile the poor daddy constantly found himself pouring over his receipts and household spending clocks.

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

Most of us develop focusing on how much we earn per hour. Constantly trading our valuable time for money and striving valiantly to increase our hourly rate.

In i thought about this the army, it means doing everything we can to reach the next rank to get 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 is the question I sensed the book asking mewhat if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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