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

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

Again, I understood that I DID NOT want to be rich when I was 65 if it cost me my lifestyle during my younger years... I'd rather have a healthy amount of money coming in each month from several sources and retire early. Or do WHATEVER I wanted after the military without having to consider the paycheck coming from my new hobby, project, or even job as part of this equation.

 

 

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

 

 

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Is a blissful and passive lifestyle really possible Is it Feasible to plan out my army career to get 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 away from you every month. It might be a temporary lifestyle enhancer, but a long-term lifestyle and prosperity killer.

Teach yourself to the point that you can find and purchase American Real Estate that you rents at a higher price that all of its expenses and there is still a significant amount left over. The residual money is that stream of income or cash flow.   Finally, when we start looking at these income flows collectively, it becomes known as"residual income." .

Ironically, setting up your own Real Estate Investing Business is NOT simple... however, with the correct education, Real Estate Investing does NOT need to be hard.  However, you must learn and act.

Now, in case you all of the above makes sense, a funny thing will begin go to my blog happening.  When you begin talking to folks about finances you'll soon begin to understand that there are two different kinds of people in this world: those who understand the difference between page an asset and a liability, and those that will NEVER be wealthy. .

 

 

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Every one of these entities are money making systems. They produce income while costing quite minimal personal work or time. Even if one of these ended up costing me a million dollars each month but produced two million dollars a month, it's an advantage.

Honestly, who cares how much You're spending on an advantage 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 was that the earning

If there was a machine that spit out two dollar bills once you gave it a single dollar bill, you'd be glued to that machine all day! In addition, you wouldn't care whether this machine charged you 50% 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 who hear the term get disappointed when they recognize there's a great deal of education and a few significant set up required on the front end of the 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 had been taught by some of my military and veteran mentors. .

As members of the army, we often think it would be very hard, or maybe even impossible, for us to find time to earn extra income. As far as our professional prioritiesour army support should be in the very top. So how can we ensure that we are setting our new property investing business up for massive success How can we make sure that it doesn't produce more anxiety than pleasure.

 

 

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They 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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