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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 those resources just paid for your automobile expense.

Perhaps you have 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 understood that I DID NOT want to become 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 various sources and retire early. Or at least do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, project, or even occupation as part of the equation.

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Both terms"residual income" and"passive income" try 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 immediately begin 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 awake while on your own 24-hour duty in the barracks. .

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Can be a blissful and lively lifestyle really possible Is it Feasible to plan my military career for nearer to such a lifestyle

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

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

Ironically, 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 must learn and act.

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

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Every one of those entities are money making systems. They produce income while costing very minimal personal work or time. Even though one of these ended up costing me why not try this out a million dollars each month but produced two million dollars a month, it is an asset.

Honestly, who cares how much you are spending on an advantage every month when it earns you more than what you spend Now let's 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 dollar bill, you'd be glued to that machine daily! Moreover, you wouldn't care Get the facts whether this machine billed you 50 percent interest on your dollar before generating you the two bucks it spit out. .

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Because passive income inherently means that I do not have 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 term get disappointed when they realize there is 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 quick scheme, but it is 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 believe it would be exceedingly difficult, or maybe even impossible, for us to find time to earn additional income. As far as our professional prioritiesour army support must be at the very top. Just how can we ensure that we are setting our new real estate investing business up for enormous success How can we make sure it content doesn't create more stress than pleasure.

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

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