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This can help you to protect the property youre renting out. For extra peace of mind, consider requesting a safety deposit too.

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

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If youre tired of the traditional way of making money, implement a few of the passive income strategies above so you can begin working and making more money as you sleep today.

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

Then, thinking it was my only option, I attempted to figure 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 college.

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

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But something did not feel right. My thought process seemed counterintuitive and it had been 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 began making the future seem more and more stressful. Anxiety started setting in.

I saw the book, Rich Dad Poor Dad, in my Audible"Recommended for you" and 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'd save money for the interest of compound interest read this and wait until I turned 59.5 or 65 to spend any of it.

I wanted my life to be better NOW! Or at least within the next couple of decades. I also wanted my life to continue getting better each month and every year.

Prior to making any assumptions, the book was not a get rich fast scheme. In reality, it was a book 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 two fathers: his own and his very best friends. His dad has a 6-figure paycheck, a college degree, lives in a nice neighborhood, and has a 401k, but struggles month-to-month financially. Another daddy 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 that the"poor dad" in the publication. .

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

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

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

In the army, it means doing everything we can to reach the next rank for a pay bulge or waiting one more year to get our bi-monthly paycheck to increase by a sad 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 me: what should you, Markian, spent your spare time creating something which would continuously send you checks on a monthly basis.