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On his blog, he hoses down expectations that passive income is simple money, stating:"Earning any sort of income online requires a lot of hard work, a great deal of patience and a 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 goal 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 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.

But what they don't tell people is that in order to do that you truly need to do some work" "The whole idea 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 that they've done in the background for them to this position. "Carter thinks it is an attempt most individuals are not prepared to put in.She says that hankering for a"magic bullet" often arises when people feel they ought to be farther forward financially.The danger is that they can set their trust in get-rich-quick approaches, or child 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 2 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 space for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone to other land investments. "Having had that one quite great beginning 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 latest 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 streams from dividends.While it has become easier as she has accelerated along the learning curve, she acknowledges there's work involved. "You do need to become something of an expert about real estate in your area 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 care of their house. "That's probably been the greatest learning: that if you allow that fester, you are giving away a great deal of your earnings. "Filipich has found methods to reduce tax-time demands.

Now, she has a separate bank account for every property. At tax time, she downloads the transactions and also 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 successfully created another type of passive income through her business, but is scathing of the notion that people can quickly tap into an online passive income stream.

To actually make it's not easy," she says. "When you put a product my explanation online, you've got to have an extremely clear way of how you will drive people to it. "Her own passive income stream comes out of a completely validated psychometric tool which 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 have literally spent $500,000 to get it to where it is," she says.This year, she has been transforming her book, The Power of Focus, a goal-setting manual which has sold 15,000 copies, into an online application.

What compelled me to do it was that I sold out of books," she says. However, she adds, it's a job that has taken the entire year.She likely sums up the effective path to passive income when she states:"It's about monetising that which you do nicely 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, but 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 decided to go for this, as no one in his department needed it.

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