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On his website, he hoses down expectations that passive income is easy money, stating:"Earning any sort of income online takes a lot of hard work, a great deal of patience and a 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 target and focus on a business model which enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the word"passive income" has become synonymous with an income that 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 strategies.

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

In 2001, at age 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 finished her university studies and allowed the second bedroom to another student. "At university, people 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 into other land investments. "Having had that one really good start early in life has made a big difference to me in terms of being able to generate more passive income from rental properties," she says.Her brand new 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's become easier as she has accelerated along the learning curve, she acknowledges there is work involved. "You do need to become something of an expert about real estate in your town and what costs are doing," she states.

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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 if a tenant isn't taking care of their property. "That's probably been the greatest learning: that if you allow that fester, you're giving off a lot of your earnings. "Filipich has found ways to reduce 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 check it. "Jennifer Elliott is the founder and chief executive of Integrity and Values, a leadership coaching firm. 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 actually create it is not simple," she states. "When you put a product online, you have to have a very clear method of how you'll drive visitors 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 other from a tried and tested paper version.Nor did it come at a minimal price. "I have 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 guide that has sold 15,000 copies, into an online application.

What forced me to do it was that I offered from books," she states. However, she adds, it's a project that has taken the entire year.She probably sums up the effective path to passive income best when she states:"It is 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 a year. He mulled boosting his earning ability by getting an architecture license, but the procedure 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 decided to go for that, as no one in his department needed it.

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