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Imagine if you just had two separate sources both earning you $250 paychecks ($500 total) each month without you doing extra work. And those resources 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 realized that I DID NOT want to become wealthy when I was 65 if it cost me my life during my younger years... I'd rather have a healthy amount of money coming in every month from various sources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming out of my new hobby, project, or even job as a portion of this equation.

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

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

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

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

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

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

Now, if you all of the above makes sense, a funny thing will start happening.  When you start talking to people about finances you'll soon begin to understand there are two different kinds of people in this world: those who 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 very minimal personal work or time. Even if one of those ended up costing me a million dollars a month but produced two million dollars each month, it's an advantage.

Honestly, who cares how much You're spending on an asset every month if it earns you more than what you spend Now let's take it one step further... what if the spending was automatic and so 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 that machine all day! In addition, you wouldn't care if that machine charged you 50% interest on your dollar before generating one of the two bucks it spit out. .

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Because 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 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 fast scheme, but it is a hell of a lot better than what I had been taught by some of my army and veteran mentors. .

As members of the army, we often think it would be very hard, or maybe even impossible, for us to find time to earn extra income. So far as our professional prioritiesour military support must be in the very top. So how can we ensure that we are setting our new real estate investing business up for enormous success How can 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 focus all our savings towards producing assets... a.k.a. rental properties.

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