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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 great deal of hard work, a lot of patience and a little bit of luck, also. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it's something which we're going to need to put as a long-term goal and focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some people, 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 men and women who have that kind of lifestyle there's a lot of work they've done in the background for them to that position. "Carter thinks it's an attempt most individuals are not prepared to place in.She says that hankering for a"magic bullet" often arises when people believe that they should be further ahead financially.The danger is they can put their trust in get-rich-quick schemes, or child themselves that passive income streams are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows exactly what it's like to live the passive income fantasy.

In 2001, at the age of 19, instead of buying a car, she used her savings to buy 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 to another student. "At university, folks thought I was mad, but it worked out cheaper than renting a room for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone to 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 rental properties," she says.Her brand new venture, Money School, involves Learn More 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 has 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 costs are doing," she states.

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You need to commit a fair bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking good care of the property. "That's probably been the biggest learning: that in case you allow that fester, you're giving off a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

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

To really make it's not simple," she says. "When you set a product online, you've got to get an extremely clear method of how you'll drive visitors to it. "Her own passive income stream comes from a completely 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 arrived at a low cost. "I have spent $500,000 to get it to where it's," she's says.This year, she has been transforming her book, The Power of Focus, a goal-setting guide 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 effective route to passive income best when she says:"It's about monetising what you do well already. "Loading.

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 a year. He mulled boosting his earning power by getting an architecture license, however, the process would probably take six to eight years. 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 this, as no one in his department needed it.

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