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This can allow you to guard the property youre renting out. For extra peace of mind, consider requesting a safety deposit too.

As you can see there are a ton of ways which you can make passive income. With luck, this list has helped you narrow down which source of income is best for you.

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If youre tired of the traditional means of making money, implement some of the passive income strategies above so you can start working less and making more money as you sleep now.

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Years ago, I recall deciding, I did not want my wife to feel as though she"needed to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to work out how I would cut down our family expenses if we had a baby. After all, I wanted to begin saving for his or her college.

Don't overlook saving for retirement! My spouse and I wanted to make sure we can tell each of the other military families we had a good TSP and Roth IRA to our prospective old-selves. We didn't want to seem financially uneducated.

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However, something did not feel appropriate. My thought process seemed counterintuitive and it had been forcing some difficult conversations between my wife and I.

How were we supposed to maintain this up with each new baby and/or expense we had We were hoping to have 3 children someday. Because of this, our many discussions about finances started making the future look more and more stressful. Anxiety began setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that I had a 13-hour drive from Pensacola, FL to New River, NC after graduating Naval Flight School. During the next several hours in my Automobile University, my entire world was turned upside down.

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Gone would be the days where I would save money for the interest of compound interest and wait patiently until I turned 59.5 or 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next several years. I also wanted my life to continue getting better every month and each year.

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Prior to making any assumptions, the book was not a get rich quick scheme. In reality, it was a book about patience more than anything. Patience with a strategy and a mindset focused on cash flow and assets rather than loans on liabilities.

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Rich Dad Poor Dad tells a story about a man with two fathers: his own and his best friends. His father has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. Another daddy didnt have a college degree, lived in a lesser neighborhood, and did not have a 401k retirement plan.

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

The wealthy dad lived a relatively stress-free lifetime in which he made systems to make use of him, while the inadequate daddy constantly found himself check my source pouring over his receipts and household spending spreadsheets.

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The rich dad helped me realize, all I needed to do would be get much more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority of us grow up focusing on how much we earn per hour. Constantly trading our precious time for money and striving valiantly to increase our hourly rate.

In the army, it means doing everything we can to get to the next rank for a pay bump or waiting one more year to have our bi-monthly paycheck to increase by a gloomy 2.5%.

We keep 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 that the book asking me: what if you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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