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Imagine if you just had two separate sources earning you $250 paychecks ($500 total) per month without you doing extra work. And those sources simply paid for your automobile 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 predict Cashflow.

Again, I realized that I DID NOT want to be wealthy when I was 65 if it cost me my lifestyle during my younger years... I would rather have a healthy amount of cash coming in every month from various sources 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, project, or even job 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 instantly 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 stay alert while on your own 24-hour responsibility at the barracks. .

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Can be a blissful and lively lifestyle really possible Is it possible to plan my military career to get nearer to such a lifestyle

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

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A liability is something which takes money from you each month. It may be a temporary lifestyle enhancer, but a long-term lifestyle and wealth killer.

Teach yourself to the point which you can find and purchase American Real Estate that you rents in a higher price that all its expenses and there is still a significant amount left . The residual money is that stream of income or cash flow.   Finally, when we begin looking at such income streams collectively, it becomes known as"residual income." .

Admittedly, setting up your own Real Estate Investing Business is NOT simple... however, with the proper education, Real Estate Investing useful source does NOT have to be difficult.  However, you must learn and act.

Now, if you all of the above makes sense, a funny thing will start 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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Each of those entities are money making systems. They create income while costing quite minimal personal effort or a knockout post time. Even if one of these ended up costing me a million dollars each month but produced two million dollars a month, it is an advantage.

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 if the spending was automatic and so was that 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 that machine daily! In addition, you wouldn't care if that machine charged you 50% interest on your dollar before generating one of 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 term get disappointed when they realize there's a great deal of education and some significant setup needed on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich fast scheme, but it's a hell of a lot better than what I was taught by a number of my army and veteran mentors. .

As members of the military, we often think it would be exceedingly difficult, or maybe even impossible, for us to find time to earn additional income. So far as our professional prioritiesour army support should be in the very top. So how can we ensure that we're setting our new property investing business up for enormous success How can we make certain that it doesn't create more anxiety than enjoyment.

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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 assets... a.k.a. rental properties.

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