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Imagine if you had two separate sources both earning you $250 paychecks ($500 total) each month without you doing extra work. And these resources simply paid for your automobile expense.

Have I 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 predict Cashflow.

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

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Both conditions"residual income" and"passive income" attempt 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 start 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, have a sip of your Monster Energy drink, and try to remain alert while on your 24-hour duty in the barracks. .

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

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

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A liability is something that takes money from you every month. It might be a temporary lifestyle enhancer, however a long-term lifestyle and wealth killer.

Teach yourself to the point that you can find and purchase American Real Estate which you rents in a higher price that all of its expenses and there's still a significant amount left . The leftover money is that stream of income or cash flow.   Finally, when we start looking at these 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 proper education, Real Estate Investing does NOT need to be hard.  However, you have to learn and behave.

Now, in case you all of the above makes sense, a funny thing will begin happening.  When you start talking to folks about finances you'll 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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Each of these entities are money making systems. They produce income while costing quite minimal personal work or time. Even though one of these ended up costing me a million dollars each month but made two million dollars each month, it is 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's 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 that machine daily! In addition, you wouldn't care whether that machine billed you 50 percent interest on your dollar prior to generating one of the two dollars it spit out. .

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

Because some people that hear the word get disappointed when they recognize there is a lot of education and a few significant setup needed on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what I had been taught by some 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 additional income. As far as our professional prioritiesour military support must be in the very top. Just how can we ensure that we're setting our new property investing business up for enormous success How do we make sure it doesn't create more anxiety than pleasure.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and focus all our savings towards producing resources... a.k.a. you could try this out rental properties.

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