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

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

Again, I realized that I DID NOT want to become rich when I was 65 if it cost me my life during my younger years... I'd rather have a wholesome amount of cash coming in every month from various sources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, project, or even job as a portion of the equation.

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Both terms"residual income" and"passive income" attempt to capture the same 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 back into it, take a sip of your Monster Energy drink, and try to remain awake while on your 24-hour responsibility at the barracks. .

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

An asset is something that 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 from you each month. It may be a temporary lifestyle enhancer, however a long-term way of life and wealth killer.

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

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

Now, if you all of the above makes sense, a funny thing will begin happening.  When you begin talking to folks about finances you'll soon begin to realize there are two different kinds of people in the 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 these 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 a million dollars each month but made two million dollars each month, it's an asset.

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

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you'd be glued to this machine daily! In addition, you wouldn't care if that machine billed you 50% interest on your buck before generating you the two dollars it spit out. .

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Because passive income inherently means that I do not need 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 term get disappointed when they recognize there's a great deal of education and a few significant set up required on the front end of their 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 a number of my army and veteran mentors. .

As members of the military, we often think it would be exceedingly difficult, or perhaps even impossible, for us to find time to earn extra income. So far as our professional priorities, our military support you could try this out should be in the very top. Just how can we ensure that we are setting our new property investing business up for massive success How do we make certain 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 assets... a.k.a. rental properties.

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