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Imagine if you had two separate sources both earning you $250 paychecks ($500 total) each month without you doing additional work. And these sources just paid for your automobile expense.

Have I 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 predict Cashflow.

Again, I understood that I DID NOT want to become rich when I was 65 if it cost me my life during my younger years... I would rather have a wholesome amount of cash coming in every month from various resources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, job, or even job as a portion of this equation.

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Both conditions"residual income" and"passive income" try to capture the identical 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 immediately snap back into it, have a sip of your Monster Energy drink, and try to remain awake while on your own 24-hour duty in 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 every month. It is a lifestyle and wealth multiplier.

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

Educate yourself to this point which you can find and purchase American Real Estate that you rents at a higher price that all its expenses and there's still a significant amount left over. The residual cash is that flow of income or cash flow.   Finally, when we begin looking at such income flows collectively, it becomes see this page 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 hard.  However, you have to 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 who understand the difference between an asset and a liability, and those 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 if one of those ended up costing me a million dollars hop over to these guys each month but made two million dollars a month, it is an asset.

Honestly, who cares how much You're spending on an advantage every month when it earns you more than what you spend Now let's take it one step further... what if 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 would be glued to that machine daily! In addition, you wouldn't care if that machine billed you 50% interest on your buck before generating one of the two dollars it spit out. .

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Because 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.

Because some people that hear the term get disappointed when they realize there is 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 is a hell of a lot better than what I had been taught by a number of my military and veteran mentors. .

As members of the army, we often think it would be exceedingly hard, or maybe even impossible, for us to find time to earn extra income. As far as our professional prioritiesour army service must be at the very top. Just how can we ensure that we are setting our new real estate investing business up for enormous success How do we make sure it doesn't create more anxiety than enjoyment.

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

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