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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 those resources just paid for your automobile expense.

Have I beaten this concept to death at this point Great. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is exactly what Real Estate Investors predict Cashflow.

Again, I understood that I DID NOT want to be wealthy when I was 65 when it cost me my life during my younger years... I would rather have a wholesome amount of cash coming in every month from various 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 job 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 automatically." 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 quickly snap into it, take a sip of your Monster Energy drink, and try to stay alert while on your own 24-hour duty at the barracks. .

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Can be a blissful and lively lifestyle actually possible Is it possible to plan out my army career to get closer to such a lifestyle

An asset is something that 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 every month. It may be a temporary lifestyle enhancer, however a long-term lifestyle and wealth killer.

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

Admittedly, 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 try this learn and behave.

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

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

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

When there was a machine that spit out two dollar bills once you gave it a single dollar bill, you would be glued to this machine all day! Moreover, you wouldn't care if that machine charged you 50 percent interest on your dollar prior to generating you the two bucks it spit out. .

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

Since some people who hear the word get disappointed when they realize there's a lot of education and some significant setup needed on the front end of the 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 was taught by some of my army and veteran mentors. .

As members of the military, we often believe it would be exceedingly difficult, or perhaps even impossible, for us to find time to earn extra income. As far as our professional prioritiesour army service should be in the very top. So how can we ensure that we're setting our new real estate investing business up for enormous success How do we make certain it doesn't produce more anxiety than pleasure.

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

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