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

Have I beaten this concept to death at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is exactly what Real Estate Investors predict Cashflow.

Again, I understood that I DID NOT want to be rich 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 several resources and retire early. Or at least do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, job, or even occupation as a portion of this equation.

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Both conditions"residual income" and"passive income" attempt to capture the same 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 back into it, have a sip of your Monster Energy drink, and try to remain awake while on your 24-hour responsibility at the barracks. .

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Is a blissful and passive lifestyle really possible Is it Feasible to plan my army career for nearer to such a lifestyle

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

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A liability is something that takes money away from you every month. It may be a temporary lifestyle enhancer, however a long-term way of life and prosperity killer.

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

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

Now, in case you all of the above makes sense, a funny thing will begin 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 that understand the difference between an asset and a liability, and those that will NEVER be wealthy. .

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Every one of those entities are money making systems. They create income while costing quite minimal personal work or time. Even though one of those ended up costing me a million dollars a month but made two million dollars each month, it is an advantage.

Honestly, who cares how much you are spending on an asset every month if it earns you you could try this out more than what you spend Now let's take it one step further... what should the spending was automatic and was that the earning

When there was a machine that spit out two dollar bills once you gave it a single dollar bill, you would be glued to that machine daily! Moreover, you wouldn't care if that machine charged you 50 percent interest on your dollar prior to generating you the two dollars it spit out. .

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Since passive income inherently means that I do not need 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 realize there's a lot of education and some significant setup needed on the front end of the 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 had been taught by a number of my military and veteran mentors. .

As members Learn More of the army, we often think it would be exceedingly difficult, or perhaps even impossible, for us to find time to earn additional income. As far as our professional prioritiesour army support must be at the very top. So how can we ensure that we are setting our new property investing business up for enormous success How do we make certain it doesn't produce more stress than enjoyment.

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They key is to leverage our VA benefits, minimize our personal housing expenses, and focus all our savings towards producing resources... a.k.a. rental properties.

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