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Imagine if you had two individual sources both earning you $250 paychecks ($500 total) per month with no doing extra work. And these sources just paid for your automobile expense.

Have I 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 become wealthy when I was 65 when it cost me my life during my younger years... I would rather have a wholesome amount of money coming in each month from various resources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming from my new hobby, job, or even occupation as part of the equation.

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Both terms"residual income" and"passive income" try to capture the same 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 immediately snap back into it, take a sip of your Monster Energy drink, and try to stay awake while on your own 24-hour responsibility in the barracks. .

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Can be a blissful and lively lifestyle actually possible Is it Feasible to plan out my military career for closer to such a lifestyle

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

Educate yourself to this point that you can find and buy American Real Estate which you rents at a higher price that all its expenses and there is still a significant amount left . The leftover 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." .

Admittedly, 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.  But you must learn and behave.

Now, if you all of the above makes sense, a funny thing will begin happening.  When you start 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 an asset and a liability, and the ones that will NEVER be wealthy. .

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Every one of these 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 produced news two million dollars each month, it is an advantage.

Honestly, who cares how much you are spending on an asset every month if it earns you more than what you spend Now let's take it one step further... what should the spending was automatic and was 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 all day! In addition, you wouldn't care if that machine charged you 50 percent interest on your buck before generating you the two bucks it spit out. .

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Because passive income inherently means that 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 disappointed when they recognize there is 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 fast scheme, but it's a hell of a lot better than what I had been taught by a number of my army and veteran mentors. .

As members of the military, we often think it would be very difficult, or maybe even impossible, for us to find time check my site to earn additional income. As far as our professional priorities, our military support should be at the very top. Just how can we ensure that we're setting our new real estate investing business up for massive success How do we make sure that it doesn't create more anxiety than pleasure.

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The trick 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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