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Imagine if you had two separate sources both earning you $250 paychecks ($500 total) per month without you doing extra work. And those resources simply paid for your car 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 what Real Estate Investors predict Cashflow.

Again, I understood that I DID NOT want to be wealthy when I was 65 when it cost me my lifestyle during my younger years... I'd rather have a healthy amount of money coming in each month from several 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 this equation.

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Both conditions"residual income" and"passive income" try 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, take a sip of your Monster Energy drink, and try to remain alert while on your own 24-hour responsibility in the barracks. .

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Can be a blissful and passive lifestyle really possible Is it Feasible to plan out my army career for nearer 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 from you every month. It may be a temporary lifestyle enhancer, however a long-term way of life and wealth killer.

Teach yourself to this point that you can find and buy American Real Estate which you rents in a higher price 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 start looking at such income flows collectively, it becomes known as"residual income." .

Ironically, setting up your own Real Estate Investing Business is NOT simple... however, with the proper education, Real Estate Investing does NOT have to be difficult.  But you have to learn and behave.

Now, in case you all of the above makes sense, a funny thing will start happening.  When you start talking to folks about finances you'll soon begin to realize there are two different kinds of people in the world: those that 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 these ended up costing me a million dollars a month but produced two million dollars each month, it's 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 about his 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 after you gave it a single dollar bill, you'd be glued to this machine all day! In addition, you wouldn't care if this machine charged you 50 percent interest on your dollar prior to 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 word get disappointed when they recognize there's a great deal of education and a few significant set up required on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it's a hell of a lot better than what click here now I was taught by a number of my military and veteran mentors. .

As members of the army, we often think it would be very difficult, or perhaps even impossible, for us to find time to earn extra income. So far as our professional priorities, our army service should be at the very top. Just how can we ensure that we are setting our new real estate investing business up for massive success How can we make sure that it doesn't produce more stress than enjoyment.

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

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