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This can 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 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 the traditional way of making money, implement some of the passive income approaches above so you can start working 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 like 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 if we had a baby. After all, I wanted to start saving for her or his college.

Don't overlook saving for retirement! My spouse and I wanted to ensure we could tell each of the other military families that we had a solid TSP and Roth IRA for our future old-selves. We didn't want to seem financially uneducated.

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But 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 this up with each new baby and/or expense we had We were hoping to have three children someday. As a result, our many discussions about finances started making the future look more and more stressful. Anxiety started setting in.

I watched 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. During the next several 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 until I turned 59.5 or even 65 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.

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Prior to making any assumptions, the book was not a get rich fast 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 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 dad has a 6-figure paycheck, useful content 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 diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

The rich dad lived a relatively stress-free life in which he made methods to make use of himwhile the inadequate daddy constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad helped me realize, all I needed to do is get much 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 check that 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 to get a pay bulge or waiting one more year to get our bi-monthly paycheck to increase with 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 felt the book asking me: what if you, Markian, spent your free time creating something that would continuously send you checks on a monthly basis.

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