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On his blog, he hoses down expectations that passive income is simple money, stating:"Earning any sort of income online takes a lot of hard work, a lot of patience and a little bit of luck, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it is something which we're going to have to put as a long-term target and concentrate on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some people, the term"passive income" has 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 strategies.

But what they don't tell people is that in order to do that you truly need to do some work." "The whole thought of a four-hour work week that sounds marvellous. The men and women who have that kind of lifestyle there's a lot of work they've done in the background for them to that position. "Carter thinks it is an attempt most people are not ready to place in.She says that hankering for a"magic bullet" often arises when people believe that they ought to be farther forward financially.The danger is that they can set their trust in get-rich-quick schemes, or child themselves that passive income flows are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows what it's 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 2 years while she finished her university studies and leased the second bedroom into another student. "At university, people thought I was mad, but it worked out cheaper than renting a room for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone into other land investments. "Having had that one really great start early in life has made a big difference to me in terms of being find here 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 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 property in your town and what prices are doing," she says.

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You need to commit a reasonable bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking good care of the property. "That's probably been the greatest learning: that in case you allow that fester, you are giving away a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

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

To really create it is not simple," she says. "When you put a product online, you've got to have a very 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 direction, which she put online in 2000.

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The online tool evolved from a tried and tested paper version.Nor did it arrived at a minimal cost. "I've literally spent $500,000 to get it to where it's," she's says.This year, she has been transforming her book, The Power of Focus, a goal-setting manual that has 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 is a job that's taken the entire year.She probably sums up the successful path to passive income when she states:"It is about monetising what you do well already. "Loading.

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 a year. He whined boosting his earning ability by getting an architecture license, but the procedure would likely 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 needed it.