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

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

Again, I realized 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 occupation as a portion 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 instantly start 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 stay alert while on your 24-hour responsibility in the barracks. .

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Can be a blissful and passive lifestyle really possible Is it Feasible to plan my army career for nearer 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 lifestyle and prosperity killer.

Educate yourself to the point that you can find and buy American Real Estate which you rents at a higher cost that all 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 streams collectively, it becomes known as"residual income" .

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

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

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 so was the earning

If there was a machine that spit out two dollar bills once you gave it get more a single dollar bill, you would be glued to this machine all day! Moreover, you wouldn't care whether that machine charged you 50 percent interest on your dollar prior to generating one of the two bucks 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.

Since some people who hear the word get disappointed when they recognize there is a great deal of education and a few significant setup needed on the front end of the 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 army, we often think it would be exceedingly hard, or maybe even impossible, for us to find time to earn extra income. As far as our professional prioritiesour military service should be at the very top. Just how can we ensure that we're setting our new property investing business up for enormous success How can we make certain that it doesn't create more stress than pleasure.

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

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