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What if you just had two separate sources earning you $250 paychecks ($500 total) per month without you doing additional work. And these resources just paid for your car expense.

Perhaps you have beaten this concept to death at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors predict Cashflow.

Again, I understood that I DID NOT want to be rich when I was 65 when it cost me my lifestyle during my younger years... I'd rather have a wholesome amount of cash coming in every month from several sources and retire early. Or at least do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, project, or even occupation as a portion of this equation.

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Both terms"residual income" and"passive income" try to capture the identical concept of,"making money mechanically." For the sake of brevity, I will only be using both terms interchangeably.

After hearing the words"passive income,", many of us instantly begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You quickly snap back into it, take a sip of your Monster Energy drink, and try to remain awake while on your 24-hour responsibility at the barracks. .

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Is a blissful and passive lifestyle really possible Is it possible to plan out my military career to get closer to such a lifestyle

An asset is something which puts money in your pocket every month. It's a lifestyle and prosperity multiplier.

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A liability is something which takes money away from you each month. It might be a temporary lifestyle enhancer, however a long-term way of life and prosperity killer.

Teach yourself to the point that you can find and buy American Real Estate which you rents at a higher cost that all of its expenses and there's still a significant amount left over. The residual money is that stream of income or cash flow.   Finally, when we begin looking at such income streams collectively, it becomes known as"residual income." .

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT have to be difficult.  However, you must learn and behave.

Now, if you all of the above makes sense, a funny thing will start happening.  When you start talking to people about finances you'll soon begin to understand there are two different kinds of people in the world: those that understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

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Every one of those entities are money making systems. They create income while costing very minimal personal work or time. Even though one of those ended up costing me a million dollars each month but made two million dollars a month, it's an advantage.

Honestly, who cares how much you are spending on an asset every month if it earns you more than what click now you spend Now let's take it one step further... what should the spending was automatic and was that the earning

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you'd be glued to that machine daily! In addition, you wouldn't care whether this machine charged you 50 percent interest on your buck before generating you the two dollars it spit out. .

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Because passive income inherently means that I do not need to spend the most expensive thing helpful site in life, time, in order to earn a certain amount of residual income.

Because some people that hear the word get disappointed when they realize there's a great deal of education and a few significant setup required on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich fast scheme, but it's a hell of a lot better than what I had been taught by a number of my military and veteran mentors. .

As members of the military, we often believe it would be very hard, or maybe even impossible, for us to find time to earn extra income. So far as our professional prioritiesour army support should be at the very top. Just how can we ensure that we're setting our new real estate investing business up for massive success How can we make sure it doesn't create more anxiety than enjoyment.

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The trick is to leverage website here our VA benefits, minimize our personal housing expenses, and focus all our savings towards producing resources... a.k.a. rental properties.

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