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This can help you to guard the property youre renting out. For additional peace of mind, consider requesting a safety deposit as well.

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

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So if youre tired of the traditional means of making money, implement some of the passive income strategies above so that you can begin working less and making more money while you sleep now.

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

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

Don't overlook saving for retirement! My wife and I wanted to make sure we could tell all the other military families that we had a good TSP and Roth IRA for our future old-selves. We didn't want to seem financially uneducated.

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However, something did not feel right. My thought process seemed counterintuitive and it had been forcing some tough conversations between my wife and I.

How were we supposed to maintain up this with each new baby and/or expense we had We were hoping to have three children someday. As a result, our various discussions about finances began making the future seem more and more stressful. Anxiety began setting in.

I watched 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 entire world was turned upside down.

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Gone would be the days where I'd 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 couple of years. Moreover, I wanted my life to continue getting better each month and every year.

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

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

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

The rich dad lived a relatively stress-free life in which he made methods to make use of himwhile the poor daddy constantly found himself pouring over his receipts and household spending spreadsheets.

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The rich dad let me realize, all I needed to do is get more paychecks. Paychecks that I didn't work for on a day-to-day basis.

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

In the military, it means doing everything we can to get to the next rank for a cover bump or waiting one more year to get our bi-monthly paycheck to increase by a gloomy 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 me: what if you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.

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