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Imagine if you just had two separate sources both earning you $250 paychecks ($500 total) per month without you doing extra work. And these sources 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 call Cashflow.

Again, I realized that I DID NOT want to be wealthy when I was 65 when it cost me my lifestyle during my younger years... I would rather have a wholesome amount of cash coming in each month from several sources and retire early. Or do WHATEVER I wanted after the army without having to consider the paycheck coming from my new hobby, project, or even job as a portion of this equation.

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Both conditions"residual income" and"passive income" attempt to capture the identical 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 immediately 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 own 24-hour responsibility in the barracks. .

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

An asset is something which puts money in your pocket every month. It's a lifestyle and wealth multiplier.

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A liability is something that takes money from you each 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 buy American Real Estate that you rents at a higher cost that all its expenses and there is still a significant amount left . The residual money is that flow of income or cash flow.   Finally, when we begin looking at these income flows collectively, it becomes known as"residual income" .

Admittedly, 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.  But you must learn and act.

Now, in case you all of the above makes sense, a funny thing will begin happening.  When you begin talking to people about finances you'll 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 a knockout post ones that will NEVER be wealthy. .

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

Honestly, who cares how much You're spending on an asset every month when it earns you more than what you spend Now let us 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 would be glued to that machine daily! Moreover, you wouldn't care whether this machine billed you 50 percent interest on your dollar before generating one of the two bucks it spit out. .

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Because passive income inherently means that I do not have 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 term get disappointed when they realize 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 fast 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 army, we often think it would be exceedingly hard, or perhaps even impossible, for us to find time to earn additional income. So far as our professional prioritiesour army support must be in the very top. Just how can we ensure that we are setting our new real estate investing business up for massive success How do we make sure 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 resources... a.k.a. rental properties.

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