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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any type of income online takes a great deal 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 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 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 people in investment and wealth strategies.

But what they don't tell folks is that in order to do that you actually need to do some work." "The whole idea of a four-hour work week that sounds marvellous. The men and women who have that kind of lifestyle there is a lot of work that they've done in the background to get them to this position. "Carter thinks it's 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 forward financially.The danger is they can set their trust in get-rich-quick approaches, or kid themselves that passive income streams 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 car, she used her savings to purchase a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for 2 years while she finished her university studies and allowed 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 to other land investments. "Having had that one quite good 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 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 has 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 real estate in your town and what prices are doing," she states.

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

Now, she has another bank account for each property. At that time, she downloads the transactions and also a spreadsheet totals everything. "I simply go through and assess it. "Jennifer Elliott is the founder click for info and chief executive of Integrity and Values, a leadership coaching firm. She has created another type of passive income through her business, but is scathing of the notion that people can quickly tap into an online passive income flow.

To really make it is not easy," she says. "When you put a product online, you've got to have a very clear way of how you will drive visitors to it. "Her own passive income stream comes out of a fully validated psychometric tool which measures integrity and direction, 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 price. "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 manual that has already sold 15,000 copies, into an online application.

What compelled me to do it was that I sold from books," she states. But, she adds, it is a project that has taken the entire year.She likely sums up the successful path to passive income 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 at an architecture firm making $38,000 a year. He whined boosting his earning power by getting an architecture license, but 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 chose to really go for that, as no one in his department had it.