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What if you just had two separate sources earning you $250 paychecks ($500 total) per month with no doing additional work. And these resources simply 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 exactly what Real Estate Investors call Cashflow.

Again, I understood that I DID NOT want to become wealthy when I was 65 if it cost me my lifestyle during my younger years... I'd rather have a wholesome amount of money coming in each month from various sources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, project, or even occupation as part of this equation.

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Both terms"residual income" and"passive income" try to capture the same 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 immediately start having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap back into it, have a sip of your Monster Energy drink, and try to stay alert while on your own 24-hour duty in the barracks. .

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Is a blissful and passive lifestyle actually possible Is it possible to plan my military career to get nearer to such a lifestyle

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

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

Teach yourself to this point that you can find and purchase American Real Estate which you rents at a higher price that all of its expenses and there's still a significant amount left . The leftover cash is that stream of income check this site out or cash flow.   Finally, when we begin looking at these income flows collectively, it will become known as"residual income" .

Admittedly, setting up your own Real Estate Investing Business is NOT simple... however, with the next correct education, Real Estate Investing does NOT have to be hard.  But you have to learn and behave.

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

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Each of those entities are money making systems. They produce income while costing very minimal personal effort or time. Even if one of those ended up costing me a million dollars each month but produced two million dollars each month, it's an advantage.

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

If there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to that machine all day! this contact form In addition, you wouldn't care whether this machine billed you 50% interest on your dollar before generating one of the two bucks it spit out. .

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

Because some people who hear the term get disappointed when they recognize there's a lot 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 quick scheme, but it's a hell of a lot better than what I had been taught by some of my army and veteran mentors. .

As members of the military, we often believe it would be very difficult, or maybe even impossible, for us to find time to earn extra income. As far as our professional prioritiesour military service must be at the very top. So how can we ensure that we are setting our new property investing business up for massive success How can we make certain it doesn't create more stress than pleasure.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all of our savings towards producing assets... a.k.a. rental properties.

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