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What if you had two separate sources both earning you $250 paychecks ($500 total) each month without you doing extra work. And those resources simply paid for your automobile expense.

Perhaps you have beaten this concept to death at this point Great. 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 if it cost me my lifestyle during my younger years... I would 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, job, or even job as part of this equation.

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Both terms"residual income" and"passive income" try 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 into it, have a sip of your Monster Energy drink, and try to stay alert while on your 24-hour duty at the barracks. .

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Is a blissful and lively lifestyle actually possible Is it possible to plan out my army career for closer 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 from you every month. It might be a temporary lifestyle enhancer, but a long-term way of life and prosperity killer.

Teach yourself to the point that you can find and buy American Real Estate that you rents at a higher cost that all its expenses and there is still a significant amount left . The leftover cash is that flow of income or cash flow.   Finally, when we start looking at such income streams collectively, it becomes known as"residual income" .

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

Now, if 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 realize that there are two different kinds of people in this world: those who understand the difference between an asset and a liability, and those that will NEVER be wealthy. .

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Each of these entities are money making systems. They create income while costing quite minimal personal effort or time. Even though one of these ended up costing me a million dollars a month but made two million dollars each month, it is an asset.

Honestly, who cares how much you are spending on an advantage 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

When there was a machine that spit out two dollar bills after you gave it a single dollar bill, you would be glued to this machine all day! In addition, you wouldn't care if this machine billed here are the findings you 50 percent interest on your dollar 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 in life, time, in order to earn a certain amount of residual income.

Since some people that hear the term get disappointed when they recognize there is a lot of education and some significant setup needed 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 military, we often think it would be exceedingly hard, or perhaps even impossible, for us to find time to earn additional income. As far as our professional prioritiesour army support must be at the very top. Just how can we ensure that we are setting our new real estate investing business up for massive success How can we make certain it doesn't create more stress 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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