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

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

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

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You need to commit 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 good care of their property. "That's probably been the greatest learning: that in case you allow that fester, you are giving off a great deal of your earnings. "Filipich has found methods to reduce tax-time demands.

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

To really make it's not easy," helpful site she states. "When you set a product online, you have to have a very clear way of how you'll drive people to it. "Her own passive income stream comes from a fully validated psychometric tool that measures integrity and direction, 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 he has a good point low cost. "I have literally spent $500,000 to get it to where it is," she's says.This year, she has been transforming her novel, The Power of Focus, a goal-setting guide that has sold 15,000 copies, into an online application.

What forced me to do it was that I sold out of books," she says. But, she adds, it is a job that's taken the entire year.She likely sums up the effective path to passive income when she says:"It's 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 a year. He mulled boosting his earning ability by getting an architecture license, however, the procedure would probably take six to eight decades. When he heard about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he chose to go for that, as no one in his department had it.

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