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On his website, 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 little bit of luck, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it is something which we are going to need 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 folks, the word"passive income" has almost 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 men and women in investment and wealth plans.

But what they don't tell folks is that in order to perform that you truly need to do some work" "The whole idea of a four-hour work week which sounds marvellous. The men and women who 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's an effort most people are not prepared to place in.She claims 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 set their trust in get-rich-quick approaches, or child themselves that passive income streams are"set and forget" and don't require any attempt to maintain.Lacey Filipich, 33, knows exactly what it is like to live that the passive income fantasy.

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 2 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 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 land investments. "Having had that one quite good 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 streams from dividends.While it 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 property in your area and what costs are doing," she says.

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You need to commit a reasonable 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 their property. "That's probably been the biggest learning: that in case you allow that fester, you're giving away a great deal of your earnings. "Filipich has found methods to reduce tax-time demands.

Now, she has a separate bank account for every property. At tax 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 you can try this out and Values, a leadership coaching firm. 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 easy," she says. "When you set 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 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 cost. "I've spent $500,000 to get it to where it is," she's says.This year, she's 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 sold from books," she says. However, she adds, it's a job that has taken the entire year.She likely sums up the successful path to passive income best when she says:"It's 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 annually. He whined boosting his earning power by getting an architecture license, however, the procedure would probably take six to eight decades. When he learned about getting a credential in sustainable design and environmentally friendly building named Leadership in Energy and Environmental Design (LEED), he chose to go for that, as no one in his department had it.

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