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Imagine if you just had two individual sources earning you $250 paychecks ($500 total) each month with no doing additional work. And those sources just paid for your car expense.

Perhaps you have 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 call Cashflow.

Again, I understood that I DID NOT want to be wealthy when I was 65 if it cost me my life during my younger years... I would rather have a healthy amount of cash coming in each month from various resources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, project, or even occupation as a portion of the equation.

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Both terms"residual income" and"passive income" attempt to capture the identical 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 begin 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 remain alert while on your 24-hour responsibility in the barracks. .

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Can be a blissful and passive 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 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 that you can find and buy American Real Estate which you rents at a higher price that all of its expenses and there's still a significant amount left over. The leftover money is that flow of income or cash flow.   Finally, when we begin looking at these income streams collectively, it becomes known as"residual income." .

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT have to be difficult.  But you have to learn and act.

Now, if 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 understand that there are two different kinds of people in the world: those who 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 create income while costing very minimal personal effort or time. Even if one of these ended up costing me a million dollars a month but produced two million dollars a month, it is an advantage.

Honestly, who cares how much You're spending on an advantage 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 so 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 whether that machine billed you 50 percent interest on your dollar before generating you the two dollars it spit out. .

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Since 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.

Since some people who hear the word get disappointed when they recognize there is a lot of education and a few 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 was taught by some of my military and veteran mentors. .

As members of the military, we often believe it would be very difficult, or perhaps even impossible, for us to find time to earn additional income. So far as our professional prioritiesour military service should be at the very top. Just how can we ensure that we're setting our new property investing business up for massive success How can we make certain that it doesn't create more stress than enjoyment.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and focus check this site out all of our savings towards producing assets... a.k.a. rental properties.

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