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What if you just had two individual sources earning you $250 paychecks ($500 total) each month with no doing additional work. And these sources just paid for your automobile expense.

Perhaps you have beaten this concept to death at this point Great. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors call Cashflow.

Again, I realized that I DID NOT want to be rich when I was 65 when it cost me my life during my younger years... I'd rather have a healthy amount of money coming in each month from several resources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, job, or even job as part of the equation.

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Both conditions"residual income" and"passive income" attempt 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 immediately snap back into it, take a sip of your Monster Energy drink, and try to stay awake while on your own 24-hour duty in the barracks. .

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

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

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

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

Admittedly, setting up your own Real Estate Investing Business is NOT easy... however, with the proper education, Real Estate Investing does NOT need to be hard.  But you have to learn and act.

Now, if 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 that there are two different kinds of people in the world: those that understand the difference between an look at here 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 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 each month, it is an advantage.

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

If there was a machine that spit out two dollar bills after you gave it a single navigate to these guys dollar bill, you would be glued to this machine daily! In addition, you wouldn't care if that machine billed you 50 percent interest on your buck before generating you the two bucks 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 who hear the word get disappointed when they recognize there is a lot of education and some significant setup needed on the front end of the journey to financial best site 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 a number of my military and veteran mentors. .

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

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They key is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all our savings towards producing resources... a.k.a. rental properties.

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