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What if you had two separate sources earning you $250 paychecks ($500 total) each month with no doing extra work. And these resources just paid for your car expense.

Have I beaten this concept to departure 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 become wealthy when I was 65 when it cost me my life during my younger years... I'd rather have a wholesome amount of money coming in every month from various sources 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 job as part of this equation.

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Both terms"residual income" and"passive income" attempt to capture the same 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 instantly begin 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, take a sip of your Monster Energy drink, and try to stay alert while on your 24-hour responsibility in the barracks. .

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Is a blissful and passive lifestyle actually possible Is it Feasible to plan out my military career to get 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 every month. It may be a temporary lifestyle enhancer, but a long-term lifestyle and prosperity killer.

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

Ironically, setting up your own Real Estate Investing Business is NOT simple... however, with the proper education, Real Estate Investing does NOT have to be hard.  However, you have to learn and behave.

Now, in case you all of the above makes sense, a funny thing will start happening.  When you begin talking to folks about finances you will soon begin to understand that there are two different kinds of people in the world: those that understand the difference between 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 though one of these ended up costing me a million dollars each month but produced two million dollars each month, it is 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 if the spending was automatic and was that the earning

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to that machine daily! Moreover, you wouldn't care if that machine charged you 50% interest on your buck prior to generating you 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 go to these guys in life, time, in order to earn a certain amount of residual income.

Since some people who hear the term get disappointed when they recognize there's a great deal of education and a few significant set up 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 a number of my military and veteran mentors. .

As members of the military, we often believe it would be very hard, or maybe even impossible, for us to find time to earn extra income. So far as our professional priorities, our 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 produce more stress than enjoyment.

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The trick is to leverage our VA benefits, minimize our personal housing expenses, and focus all our savings towards producing resources... a.k.a. rental properties.

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