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Imagine if you had two separate sources earning you $250 paychecks ($500 total) per month with no doing additional work. And those resources just paid for your automobile expense.

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

Again, I realized that I DID NOT want to become wealthy when I was 65 if it cost me my life during my younger years... I'd rather have a healthy amount of cash coming in each month from various sources and retire early. Or do WHATEVER I wanted after the army 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" attempt 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, take a sip of your Monster Energy drink, and try to remain awake while on your 24-hour responsibility in the barracks. .

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

An asset is something that puts money in your pocket each month. It is a lifestyle and wealth multiplier.

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

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

Ironically, setting up your own Real Estate Investing Business is NOT simple... however, with the correct education, Real Estate Investing does NOT have to be difficult.  But 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 will soon begin to understand that there are two different kinds of people in the world: those who understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

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Every one of these entities are money making systems. They produce income while costing very minimal personal effort or time. Even if one of these ended up costing me a million dollars a month but produced two million dollars a month, it is an asset.

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

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to this machine daily! Moreover, you wouldn't care if that machine billed you 50% interest on your buck before generating one of the two dollars it spit out. .

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

Because some people that hear the term get disappointed when they recognize there is a lot of education and some significant set up needed 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 army and veteran mentors. .

As members of the military, we often think it would be exceedingly hard, or perhaps even impossible, for us to find time to earn extra income. As far as our professional prioritiesour military support should be at the very top. Just how can we ensure that we are setting our new property investing business up for enormous success How can we make sure it doesn't produce more stress than pleasure.

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

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