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What if you just had two separate sources both 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 Great. 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 wealthy when I was 65 if it cost me my lifestyle during my younger years... I'd rather have a healthy amount of cash coming in every month from several resources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, job, or even occupation as part 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 immediately begin 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 24-hour responsibility in the barracks. .

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Is a blissful and lively lifestyle actually possible Is it Feasible to plan out my military career for nearer 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 that takes money away from you each month. It may be a temporary lifestyle enhancer, however a long-term lifestyle and wealth killer.

Teach yourself to the point which you can find and purchase American Real Estate which you rents at a higher cost that all of its expenses and there is still a significant amount left over. The leftover cash is that flow of income or cash flow.   Finally, when we start looking at these 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 need to be difficult.  But you have to learn and act.

Now, if you all of the above makes sense, a funny thing will begin happening.  When you start talking to folks about finances you will soon begin to understand there are two different kinds of people in this 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 those entities are money making systems. They produce income while costing quite minimal personal work or time. Even though one of those ended up costing me a million dollars a month but made two million dollars a month, it's an advantage.

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 should the spending was automatic and was that the earning

If there was a machine that spit out two dollar bills once you gave it a single dollar bill, you would be glued to this machine daily! In addition, you wouldn't care if that machine charged you 50 percent interest on your buck before generating one of the two dollars 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 see this here is a lot of education and some significant set up needed on the front end of the 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 military and veteran mentors. .

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

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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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