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This will allow you to guard the property youre renting out. For extra peace of mind, consider requesting a security deposit too.

As you can see there are a ton of ways that you can make passive income. Hopefully, this list has helped you narrow down which source of income is best for you.

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So if youre tired of the traditional way of making money, implement some of the passive income approaches above so that you can start working and making more money as you sleep today.

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Years ago, I recall deciding, that I did not want my wife to feel as though she"had to" go to work if she didnt want to.

Then, thinking it was my only option, I tried to figure out how I would cut down our family expenses when we had a baby. After all, I wanted to begin saving for his or her school.

Don't overlook saving for retirement! My wife and I wanted to ensure we could tell each of the other military families that we had a solid TSP and Roth IRA to our prospective old-selves. We didn't want to seem financially uneducated.

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But something did not feel right. My thought process seemed counterintuitive and it was forcing some tough conversations between my wife and I.

How were we supposed to maintain this up with every new baby and/or expense we had We had been hoping to have three children someday. Because of this, our various discussions about finances started making the future look more and more stressful. Anxiety began setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that I had a 13-hour driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next several hours in my Automobile University, my helpful hints entire world was turned upside down.

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Gone were the days where I would save money for the sake of compound interest and wait until I turned 59.5 or even 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next several years. I also wanted my life to continue getting better every month and every year.

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Prior to making any assumptions, the book was not a get rich quick scheme. In reality, it was a book about patience more than anything. Patience with a strategy and a mindset focused on cash flow and assets rather than loans on obligations.

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Rich Dad Poor Dad tells a story about a man with just two fathers: his own and his best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy didnt possess a college diploma, lived in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with the 6-figure paycheck was the"poor dad" in the book. .

The wealthy dad lived a relatively stress-free lifetime in which he created systems to make use of himwhile the inadequate daddy constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad helped me realize, all I needed to do would be get more paychecks. Paychecks that I didn't work for on a day-to-day basis.

The view it now majority of us develop focusing on how much we earn per hour. Constantly trading our precious time for money and striving valiantly to increase our hourly rate.

In the army, it means doing everything we can go to my blog to reach the next rank to get a cover bulge or waiting one more year to have our bi-monthly paycheck to increase by a sad 2.5%.

We maintain trading our time for money even though time is the only thing we can't earn more of... we can always earn more money.

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Here is the question I sensed that the book asking mewhat should you, Markian, spent your spare time creating something that would continuously send you checks on a monthly basis.

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