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

Perhaps you have beaten this concept to departure at this point Great. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is exactly what Real Estate Investors call Cashflow.

Again, I realized 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 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 out of my new hobby, job, or even occupation as a portion of this equation.

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Both terms"residual income" and"passive income" try 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 instantly 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 own 24-hour duty 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 nearer to such a lifestyle

An asset is something which puts money in your pocket every month. It's a lifestyle and wealth 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 prosperity killer.

Teach yourself to this point that you can find and buy American Real Estate that you rents in a higher cost that all of its expenses and there is still a significant amount left . The residual cash is that stream of income or cash flow.   Finally, when we begin looking at such income flows collectively, it will become known as"residual income" .

Admittedly, setting up your own Real Estate Investing Business is NOT simple... however, with the correct education, Real Estate Investing does NOT need to be hard.  However, you must learn and behave.

Now, if you discover this info here all of the above makes sense, a funny thing will start happening.  When you begin talking to people about finances you'll 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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Each of those entities are money making systems. They produce income while costing very minimal personal effort or time. Even if one of those ended up costing me a million dollars a month but produced two million dollars each month, it's an advantage.

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 if the spending was automatic and was the earning

If there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to this machine daily! Moreover, you wouldn't care whether that machine billed you 50% interest on your buck prior to generating you the two bucks it spit out. .

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Because passive income inherently means 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 word get disappointed when they recognize there's a great deal of education and a few significant setup required 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 some of my military 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 additional income. So far as our professional prioritiesour military service should be at the very top. Just how can we ensure that we are setting our new property investing business up for massive success How can we make sure that it doesn't produce more anxiety than pleasure.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all of our savings towards producing resources... a.k.a. rental properties.

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