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

Have I beaten this concept to departure at this point Great. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors call Cashflow.

Again, I understood that I DID NOT want to become 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 each month from various resources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming from my new hobby, job, or even occupation as a portion of the equation.

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Both conditions"residual income" and"passive income" attempt 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 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 passive lifestyle really possible Is it possible to plan my military career for closer to such a lifestyle

An asset is something that puts money in your pocket every month. It's a lifestyle and wealth multiplier.

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

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

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT need to be hard.  But you must learn and behave.

Now, if 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 realize that there are two different kinds of people in the world: those that understand the difference between an asset and a liability, and the his response ones that will NEVER be wealthy. .

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Each of these entities are money making systems. They create income while costing quite minimal personal effort or time. Even though one of these ended up costing me a million dollars a month but produced two million dollars a month, it is an asset.

Honestly, who cares how much you are spending on an asset every month when it earns you more than what you spend Now let us take it one step further... what should 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! Moreover, you wouldn't care whether that machine charged Get More Info you 50 percent interest on your buck prior to generating you the two bucks it spit out. .

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Since passive income inherently means 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 that hear the term get disappointed when they recognize there's a lot of education and some significant setup required on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what I had been taught by some of my army and this page veteran mentors. .

As members of the army, we often believe it would be 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 at the very top. So how can we ensure that we are setting our new property investing business up for massive success How do we make sure it doesn't produce more anxiety than pleasure.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all our savings towards producing assets... a.k.a. rental properties.

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