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

Again, I understood that I DID NOT want to become rich 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 various sources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming out of my new hobby, project, or even job as part of the equation.

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Both conditions"residual income" and"passive income" attempt 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 instantly begin having romantic visions of lounging on a yacht in the Caribbean Sea and occasionally checking our growing bank account. You quickly snap into it, take a sip of your Monster Energy drink, and try to remain awake while on your 24-hour responsibility at the barracks. .

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Can be a blissful and passive lifestyle really possible Is it Feasible to plan my military career for nearer to such a lifestyle

An asset is something that puts money in your pocket each month. It's a lifestyle and prosperity multiplier.

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A liability is something which takes money away from you every month. It might be a temporary lifestyle enhancer, but a long-term lifestyle and prosperity killer.

Educate yourself to the point which 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 over. The leftover cash is that stream of income or cash flow.   Finally, when we begin looking at these income streams collectively, it becomes known as"residual income" .

Ironically, setting up your own Real Estate Investing Business is NOT easy... however, with the correct education, Real Estate Investing does NOT have to be hard.  But you have to learn and act.

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

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Every one of those entities are money making systems. They produce income while costing very minimal personal effort or time. Even if one of these ended up costing me a million dollars a 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 if 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 visit homepage would be glued to that machine daily! In addition, you wouldn't care if this machine charged you 50% interest on your dollar prior to generating one of the two dollars it spit out. .

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Since 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.

Because some people who hear the term get disappointed when they recognize there is a great deal of education and some significant setup needed 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 some of my army and veteran mentors. .

As members of the army, we often believe it would be very hard, or perhaps even impossible, for us to find time to earn additional income. As far as our professional prioritiesour military service must be in the very top. Just how can we ensure that we're setting our new real estate investing business up for massive success How can we make certain 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 concentrate all of our savings towards producing assets... a.k.a. rental properties.

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