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

Perhaps you have 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 realized that I DID NOT want to become wealthy when I was 65 when it cost me my lifestyle during my younger years... I would rather have a healthy amount of money coming in every month from various resources and retire early. Or at least do WHATEVER I wanted after the military 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 mechanically." 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 back into it, have a sip of your Monster Energy drink, and try to remain alert while on your own 24-hour duty at the barracks. .

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

An asset is something which puts money in your pocket each 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.

Teach yourself to the point which you can find and purchase American Real Estate that you rents in a higher price that all its expenses and there is still a significant amount left . The residual cash is that flow of income or cash flow.   Finally, when we start looking at these income streams 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 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 will soon begin to understand 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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Each of these entities are money making systems. They produce income while costing very minimal personal work or time. Even if one of these ended up costing me a million dollars each 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 when it earns you more than what you spend Now let us take it one step further... what should the spending was automatic and was that the earning

If there was a machine that spit out read what he said two dollar bills once you gave it a single dollar bill, you'd be glued to this machine all day! In addition, you wouldn't care if that machine billed you 50% 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.

Because some people who 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 is 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 think 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 must 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 can we make certain it doesn't produce more stress than enjoyment.

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They key is to leverage our VA benefits, minimize our personal housing expenses, and concentrate all our savings towards producing resources... a.k.a. rental properties.

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