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

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

Again, I realized that I DID NOT want to become wealthy when I was 65 when it cost me my life during my younger years... I'd rather have a wholesome amount of cash coming in each month from various sources and retire early. Or at least do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, project, or even occupation as a portion of the equation.

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

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Is a blissful and passive lifestyle actually possible Is it Feasible to plan my military career to get closer to such a lifestyle

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

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A liability is something which 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 this point that you can find and buy American Real Estate that you rents in a higher cost that all of its expenses and there is still a significant amount left . The residual money is that stream of income or cash flow.   Finally, when we begin looking at such income streams collectively, it becomes known as"residual income" .

Admittedly, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT need to be difficult.  However, you must 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 understand that there are two different kinds of people in this world: those that understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

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

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

When 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! In addition, you wouldn't care whether that machine billed you 50 percent interest on your dollar before generating one of the two bucks it spit out. .

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Since passive income inherently means that I do not have 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 great deal 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 fast scheme, but it's a hell of a lot better than what I had i was reading this been taught by some of my military and veteran mentors. .

As members of the military, we often think it would be exceedingly hard, or maybe even impossible, for us to find time to earn additional income. As far as our professional priorities, our military service should be at the very top. So how can we ensure that we are setting our new real estate investing business up for massive success How do we make certain that 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 of our savings towards producing assets... a.k.a. rental properties.

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