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Imagine if you just had two individual sources both earning you $250 paychecks ($500 total) per month without you doing additional work. And those sources just paid for your car expense.

Perhaps you have 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 if it cost me my life during my younger years... I would rather have a wholesome amount of money coming in each month from various resources 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" try to capture the identical 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 immediately snap into it, have a sip of your Monster Energy drink, and try to remain alert while on your 24-hour duty in the barracks. .

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

An asset is something that 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 from you each month. It might be a temporary lifestyle enhancer, however a long-term way of life and wealth killer.

Teach yourself to the 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 cash is that flow of income or cash flow.   Finally, when we begin looking at such income flows collectively, it becomes known as"residual income." .

Ironically, 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 folks about finances you will soon begin to understand 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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Each of those entities are money making systems. They create income while costing quite minimal personal effort or time. Even though one of those ended up costing me a million dollars each month but made two million dollars a month, it is an asset.

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

If there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to this machine daily! In addition, you wouldn't care if that machine billed you 50 percent interest on your dollar official statement before generating you the two bucks 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 recognize there's a great deal of education and a few significant setup required on the front end of their journey to financial freedom (our"Why"). Again, this isn't a get rich quick scheme, but it is a hell of a lot better than what 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 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're setting our new property investing business up for massive success How can we make certain that it doesn't create more anxiety than pleasure.

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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 resources... a.k.a. rental properties.

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