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On his website, 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 little bit of luck, also. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it's something that we're going to need to put as a long-term goal and focus on a business model which allows 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 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 plans.

However, what they don't tell folks 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 people who have that kind of lifestyle there's a good deal of work they've done in the background to get them to that position. "Carter thinks it is an effort most individuals are not ready to put in.She claims that hankering for a"magic bullet" often arises when people feel they should be farther forward financially.The danger is they can set their trust in get-rich-quick approaches, or kid 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 that the passive income dream.

In 2001, at the age of 19, instead of buying a vehicle, she used her savings to buy 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 into another student. "At university, people thought I was mad, 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 land investments. "Having had that one quite great start early in life has made a big 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 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 town and what prices are doing," she states.

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You do need to dedicate 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 biggest learning: that if you let that fester, you are giving off a lot of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she has another 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 leader of Integrity and Values, a leadership coaching firm. She has successfully created another type of passive income via her business, but is scathing of the idea that people can easily tap into an online passive income flow.

To actually make it's not easy," she says. "When you put a product online, you've got to get an extremely clear way of how you will drive people to it. "Her own passive income stream comes from a fully validated psychometric tool which 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 arrived at a minimal price. "I've spent $500,000 to get it to where it's," she says.This year, she's been transforming her novel, 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. But, she adds, it's a project that has taken the entire year.She probably sums up the effective path to passive income when she states:"It's about monetising that which you do nicely already. "Loading. link

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 annually. He mulled boosting his earning ability by getting an architecture license, but the process would likely 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 decided to really go for this, as no one in his department had it.