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What if you had two separate sources both earning you $250 paychecks ($500 total) per month with no doing extra work. And those resources just paid for your car expense.

Perhaps you have beaten this concept to death 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 become 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 job as part of the equation.

 

 

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Both conditions"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 immediately begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You quickly snap into it, have a sip of your Monster Energy drink, and try to stay awake while on your 24-hour responsibility at the barracks. .

 

 

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Can be a blissful and lively lifestyle actually possible Is it possible to plan out my army career to get nearer to such a lifestyle

An asset is something that puts money in your pocket each month. It is a lifestyle and prosperity 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 way of life and wealth killer.

Teach yourself to the point that you can find and purchase American Real Estate that you rents at a higher cost that all of its expenses and there's still a significant amount left over. The leftover money is that stream of income or cash flow.   Finally, when we start looking at these income streams collectively, it will become known as"residual income" .

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

Now, if you all of the above makes sense, a funny thing will begin happening.  When you begin talking to people about finances you'll soon begin to realize that there are two different kinds of people in the world: those who understand the difference between an asset and a liability, and those that will this link NEVER be wealthy. .

 

 

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Every one of those entities are money making systems. They create income while costing view very minimal personal effort or time. Even though one of those ended up costing me a million dollars a month but produced two million dollars a month, it's an asset.

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

If there was a machine that spit out two dollar bills once you gave it a single dollar bill, you'd be glued to this machine all day! Moreover, you wouldn't care whether this machine charged you 50 percent interest on your dollar prior to generating one of the two bucks it spit out. .

 

 

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Because passive income inherently means I do not need 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 recognize there's a great deal of education and a few significant set up required 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 was taught by a number of my army and veteran mentors. .

As members of the army, we often believe it would be read this exceedingly difficult, or maybe even impossible, for us to find time to earn additional income. As far as our professional priorities, our army service should be in the very top. So how can we ensure that we are setting our new property investing business up for enormous success How can we make sure that it doesn't produce more stress than pleasure.

 

 

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

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