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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 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 that we are going to need to put as a long-term target and concentrate 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 become synonymous with an income that 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 perform that you actually need to do some work." "The whole idea of a four-hour work week that sounds marvellous. The people who have that kind of lifestyle there is a good deal of work that they've done in the background to get 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 that they ought to be farther ahead financially.The danger is that they can put their hope in get-rich-quick approaches, or kid themselves that passive income flows 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 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 leased the second bedroom into 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 into other land investments. "Having had that one really great start 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 brand new 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's become easier as she's accelerated along the learning curve, she acknowledges there's work involved. "You do need to become something of an expert about property in your town and what prices are doing," she states.

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You 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 care of their house. "That's probably been the greatest learning: that if you let that fester, you are giving off a great deal of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's a separate bank account for each 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 company. She has created another type of passive income via her business, but is scathing of the notion that individuals can quickly tap into an online passive income stream.

To really create it's not easy," she says. "When you put a product online, you have to get a very clear way of how you will drive people to it. "Her own passive income stream comes from a completely validated psychometric tool that 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 arrived at a low cost. "I've literally spent $500,000 to get it to where it is," 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 article that I sold out of books," she states. But, she adds, it's a job that has taken the entire year.She likely sums up the effective route to passive income best when she states:"It's about monetising what 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 whined boosting his earning power by getting an architecture license, however, the process 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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