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On his blog, he rolls down expectations that passive income is simple money, stating:"Earning any sort of income online requires a lot of hard work, a lot of patience and a little bit of luck, too. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something that we're going to have to put as a long-term target and concentrate on a business model which allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few people, the term"passive income" has almost become synonymous with an income which you can earn without any effort.Deanne Carter, national sales manager of JDL Plans, has been to countless financial seminars and coached hundreds of men and women in investment and wealth plans.

However, what they don't tell folks is that in order to do that you actually need to do some work." "The entire thought of a four-hour work week which sounds marvellous. The people who do have that kind of lifestyle there's a good deal of work they've done in the background for them to this position. "Carter thinks it is an attempt most individuals are not prepared to place in.She claims that hankering for a"magic bullet" often arises when people feel they ought to be farther forward financially.The danger is that they can put their hope in get-rich-quick approaches, or kid themselves that passive income streams are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows what it is like to live the passive income fantasy.

In 2001, at age 19, instead of buying a vehicle, she used her savings to purchase a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for two years while she finished her university studies and leased the second bedroom into another student. "At university, folks thought I was crazy, but it worked out cheaper than renting a space for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone into other property investments. "Having had that one really great start early in life has made a major difference to me in terms of being able to generate more passive income from rental properties," she says.Her brand new venture, Money School, involves teaching others how to follow in her footsteps and she also plans to direct money into shares in future to secure income flows from dividends.While it has become easier as she's accelerated along the learning curve, she acknowledges there is work involved. "You do have to become something of an expert about real estate in your area and what costs are doing," she states.

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You do need to dedicate a fair bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking care of their house. "That's probably been the biggest learning: that if you allow that fester, moved here you are giving away a great deal of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's a separate bank account for every property. At tax time, she downloads the transactions and a spreadsheet totals everything. "I just go through and assess it. "Jennifer Elliott is the founder and leader of Integrity and Values, a leadership coaching firm. She has created another type of passive income via her business, but is scathing of the idea that individuals can quickly tap into an online passive income flow.

To actually make it is not easy," she says. "When you set a product online, you've got to have an click site extremely clear way of how you will drive visitors to it. "Her own passive income stream comes out of a completely validated psychometric tool that measures integrity and leadership, which she put online in 2000.

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The online tool evolved out of a tried and tested paper version.Nor did it come at a minimal price. "I have literally spent $500,000 to get it to where it's," she says.This year, she has been transforming her book, The Power of Focus, a goal-setting manual that has already sold 15,000 copies, into an online application.

What forced me to do it was I offered out of books," she says. But, she adds, it's a job that's taken the entire year.She probably sums up the successful path to passive income when she says:"It is about monetising that which you do well already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 annually. He mulled boosting his earning power by getting an architecture license, however, the procedure would likely take six to eight decades. When he learned about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he decided to really go for that, as no one in his department needed it.

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