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What if you had two separate sources both earning you $250 paychecks ($500 total) each month with no doing extra work. And these resources just paid for your car expense.

Have I 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 predict Cashflow.

Again, I understood that I DID NOT want to become rich when I was 65 when it cost me my lifestyle during my younger years... I would rather have a wholesome amount of money coming in each month from several sources 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 job as a portion of the equation.

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Both terms"residual income" and"passive income" try 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 instantly start having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You immediately snap into it, have a sip of your Monster Energy drink, and try to stay alert while on your 24-hour duty in the barracks. .

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

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

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A liability is something which takes money away from you each month. It may be a temporary lifestyle enhancer, but a long-term way of life 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 of its expenses and there is still a significant amount left over. The residual cash is that flow of income or cash flow.   Finally, when we start looking at such income streams 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 discover this info here NOT have to be hard.  But you have to learn and behave.

Now, if you all of the above makes sense, a funny thing will start happening.  When you begin talking to folks about finances you will soon begin to understand that there are two different kinds of people in the world: those who understand sites the difference between an asset and a liability, and those 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 produced two million dollars each month, it is an asset.

Honestly, who cares how much you are spending on an asset every month if it earns you more than what you spend Now let us take it one step further... what should the spending was automatic and so 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 that machine daily! In addition, you wouldn't care if that machine charged you 50 percent interest on your buck prior to generating you 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.

Since some people that hear the term get disappointed when they recognize there's a lot of education and a few significant setup required on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich fast scheme, but it is a hell of a lot better than what I had been taught by a number of my army and veteran mentors. .

As members of the army, we often think it would be very difficult, or perhaps even impossible, for us to find time to earn extra income. So far as our professional priorities, our military service must be in the very top. So how can we ensure that we are setting our new real estate investing business up for enormous success How can we make certain that it doesn't create more anxiety than enjoyment.

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They key 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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