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What if you just had two separate sources earning you $250 paychecks ($500 total) each month without you doing additional work. And these sources just paid for your automobile expense.

Perhaps you have beaten this concept to death at this point Good. Rich Dad Poor Dad tattooed this concept onto my brain. The concept is what Real Estate Investors predict Cashflow.

Again, I realized that I DID NOT want to be rich when I was 65 when it cost me my life during my younger years... I'd rather have a healthy amount of cash coming in every month from various resources and retire early. Or at least 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 the equation.

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Both conditions"residual income" and"passive income" attempt 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 awake while on your 24-hour duty at the barracks. .

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Can be a blissful and passive lifestyle actually possible Is it possible to plan out my army career to get closer to such a lifestyle

An asset is something which puts money in your pocket every month. It's 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, but a long-term way of life and prosperity killer.

Educate yourself to this point that you can find and purchase American Real Estate which you rents at a higher price that all of its expenses and there's still a significant amount left . The leftover money is that stream of income or cash flow.   Finally, when we begin looking at these income streams collectively, it will become 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 need to be hard.  But you must learn and behave.

Now, if you all of the above makes sense, a funny thing will start happening.  When you begin talking to people about finances you will soon begin to realize that there are two different kinds of people in the world: those who understand the difference between an asset and a liability, and the ones that will NEVER be wealthy. .

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Each of these entities are money making systems. They produce 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 a month, it is an advantage.

Honestly, who cares how much you are spending on an asset every month when it earns you more than what you spend Now let us take it one step further... what should the spending was automatic and was that 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 that machine daily! Moreover, you wouldn't care if that machine billed you 50 percent interest on your buck prior to generating you the two bucks it spit out. .

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Because passive income inherently means I do not need to spend the most expensive thing in life, time, in order to earn a certain amount of residual income.

Since some people that hear the word get Get More Information disappointed when they realize there is a lot 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's a hell of a lot better than what I was taught by a number of my army and veteran mentors. .

As members of the military, we often think it would be very difficult, or perhaps even impossible, for us to find time to earn additional income. As far as our professional prioritiesour military support should be in the very top. Just how can we ensure that we are setting our new real estate investing business up for enormous success How do we make sure it doesn't create more stress than enjoyment.

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They their explanation key 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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