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On his website, he rolls down expectations that passive income is easy money, stating:"Earning any sort of income online takes a lot of hard work, a lot of patience and a bit of luck, also. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it's something which we are going to have to put as a long-term target and focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few people, the word"passive income" has become synonymous with an income which you can make without any effort.Deanne Carter, national sales manager of JDL Strategies, has been to countless financial seminars and coached hundreds of people 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 entire idea of a four-hour work week which sounds marvellous. The people who do have that kind of lifestyle there's a good deal of work they've done in the background for them to this position. "Carter thinks it is an attempt most people are not prepared to place in.She claims that hankering for a"magic bullet" often arises when people feel they ought to be further forward financially.The danger is that they can put their hope in get-rich-quick schemes, or child themselves that passive income streams are"set and forget" and don't require any attempt to maintain.Lacey Filipich, 33, knows what it's like to live that the passive income dream.

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 two years while she finished her university studies and leased 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 quite great start 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 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 flows from dividends.While it find more information has become easier as she's 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 area and what costs are doing," she states.

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You do need to commit a fair bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking good care of their house. "That has probably been the greatest learning: that if you let that fester, you're giving away a great deal of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she has another bank account for each property. At tax time, she downloads the transactions and also a spreadsheet totals everything. "I simply go through and check it. "Jennifer Elliott is the founder and leader of Integrity and Values, a leadership coaching firm. She has created another kind of passive income through her business, but is scathing of the idea that people can easily tap into an online passive income stream.

To really make it's not easy," she says. "When you set a product online, you have to have an extremely clear method 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 from a tried and tested paper version.Nor did it come at a low cost. "I have spent $500,000 to get it to where it is," she's says.This year, she's been transforming her book, The Power of Focus, a goal-setting guide which has sold 15,000 copies, into an online application.

What forced me to do it was I offered from books," she states. But, she adds, it's a job that's taken the entire year.She probably sums up the successful route to passive income when she says:"It is about monetising that which you do well already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 annually. He whined boosting his earning power by getting an architecture license, however, 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 my site Environmental Design (LEED), he decided to go for this, as no one in his department had it.

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