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This will help you to guard the property youre renting out. For additional peace of mind, consider requesting a safety deposit too.

As you can see there are a ton of ways that you can make passive income. With luck, this list has helped you narrow down which source of income is most effective for you.

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If youre tired of the traditional means of making money, implement some of the passive income strategies above so you can start working and making more money while you sleep today.

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Years ago, I remember deciding, that I did not want my wife to feel like she"needed to" go to work when she didnt want to.

Then, thinking it was my only option, I attempted to work out how I would cut down our household expenses when we had a baby. After all, I wanted to start saving for his or her school.

Don't forget saving for retirement! My wife and I wanted to ensure we could tell all the other military families that we had a solid TSP and Roth IRA for our future old-selves. We didn't want to seem financially uneducated.

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However, something did not feel right. My thought process seemed counterintuitive and it was forcing some difficult conversations between my wife and I.

How were we supposed to keep this up with every new baby and/or expense we had We had been hoping to have 3 children . Because of this, our various discussions about finances started making the future seem more and more stressful. Anxiety began setting in.

I watched the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and that I had a 13-hour driveway from Pensacola, FL to New River, NC after graduating Naval Flight School. Over the next several hours in my Automobile University, my world was turned upside down.

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Gone were the days where I would save money for the interest of compound interest and wait patiently until I turned 59.5 or 65 to spend any of it.

I wanted my life to become better NOW! Or at least within the next several years. I also wanted my life to continue getting better every month and each year.

Before you make any assumptions, the publication was not a get rich fast scheme. In fact, it was a novel about patience more than anything. Patience with a strategy and a mindset focused on cash flow and resources rather than loans on liabilities.

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Rich Dad Poor Dad tells a story about a man with just two fathers: his own and his best friends. His dad has a 6-figure paycheck, a college diploma, lives in a nice neighborhood, and contains a 401k, but struggles month-to-month financially. The other father didnt have a college diploma, dwelt in a lesser neighborhood, and did not have a 401k retirement plan.

The kicker was, the dad with the 6-figure paycheck was the"poor dad" in the book. .

The rich dad lived a comparatively stress-free life in which he created methods to work for himwhile the poor dad constantly found himself pouring over his receipts and household spending clocks.

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The wealthy dad let me understand, all I needed to do would be get more paychecks. Paychecks that I didn't work for on an everyday basis.

The majority of us grow up focusing on how much we earn per hour. Constantly trading our precious time for money and striving valiantly to increase our hourly rate.

In the military, it means doing everything we can to get to the next rank for a pay bump or waiting one more year to have my blog our bi-monthly paycheck to increase by a gloomy 2.5%.

We maintain trading our time for money even though time is the only thing we can't earn more of... we can always earn more money.

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Here's the question I felt that the book asking mewhat should you, Markian, spent your free time creating something which would continuously send you checks on a monthly basis.