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What if you had two individual sources both earning you $250 paychecks ($500 total) per month with no doing extra work. And those sources 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 wealthy when I was 65 when it cost me my lifestyle during my younger years... I'd rather have a wholesome amount of money coming in each month from several resources and retire early. Or at least do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, project, or even occupation as a portion of this equation.

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Both terms"residual income" and"passive income" try to capture the same 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 own 24-hour responsibility at the barracks. .

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

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

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A liability is something that takes money from you each month. It may be a temporary lifestyle enhancer, but a long-term way of life and prosperity killer.

Educate yourself to this point which you can find and buy American Real Estate that you rents in a higher price that all its expenses and there is still a significant amount left over. The leftover money is that stream of income or cash flow.   Finally, when we begin looking at such income streams collectively, it will become 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 difficult.  However, you must learn and behave.

Now, in case you all of the above makes sense, a funny thing will begin happening.  When you start talking to people about finances you will 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 those that will NEVER be wealthy. .

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Every one of reference these entities are money making systems. They create income while costing very minimal personal effort or time. Even if one of those ended up costing me a million dollars a month but made two million dollars a month, it is an asset.

Honestly, who cares how much You're spending on an asset every month if 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

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

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Since 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.

Since some people that hear the word get disappointed when they recognize there's a lot of education and some significant setup required on the front end of more information their journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it's a hell of a lot better than what I was taught by some 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 extra 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 property investing business up for massive success How do we make certain it doesn't create more stress 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. rental properties.

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