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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any sort of income online requires a great deal 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 is something which we're going to need to put as a long-term goal and focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few folks, the word"passive income" has almost become synonymous with an income which you can make without any effort.Deanne Carter, national sales manager of JDL Plans, has been to countless financial seminars and coached hundreds of people in investment and wealth plans.

However, what they don't tell folks is that in order to perform that you actually need to do some work." "The entire idea of a four-hour work week that sounds marvellous. The people who do have that kind of lifestyle there's a lot of work that they've done in the background for them to this position. "Carter thinks it is an effort most individuals are not prepared to place in.She says that hankering for a"magic bullet" often arises when folks believe they should be further forward financially.The danger is they can put their hope in get-rich-quick approaches, or child themselves that passive income flows 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 dream.

In 2001, at the age of 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 completed her university studies and allowed the second bedroom to another student. "At university, folks thought I was mad, 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 to other property investments. "Having had that one quite good beginning 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 also plans to direct money into stocks in future to secure income streams from dividends.While it's 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 prices are doing," she states.

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You do need to commit a fair bit of time. "She has 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 let that fester, you're giving off a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's a separate bank account for every property. At that time, she downloads the transactions and a spreadsheet totals go to these guys everything. "I simply 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 type of passive income through her business, but is scathing of the notion that individuals can easily tap into an online passive income stream.

To actually create it's not simple," she says. "When you put a product online, you've got to get a very clear way of how you will drive visitors to it. "Her own passive income stream comes from a fully validated psychometric tool which 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 arrived at a minimal price. "I've spent $500,000 to get it to where it's," she's says.This year, she has been transforming her novel, 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 sold out of books," she states. However, she adds, it's a project that has taken the entire year.She likely sums up the effective route to passive income best when she says:"It is about monetising what 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 whined boosting his earning power by getting an architecture license, but the process would probably take six to eight years. When he heard about getting a credential in sustainable design and environmentally friendly building named Leadership in Energy and Environmental Design (LEED), he chose to really go for that, as no one in his department needed it.

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