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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 lot of hard work, a lot of patience and a little bit of luck, too. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it is something which we are going to need to put as a long-term target and concentrate on a business model which allows 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 men and women in investment and wealth plans.

But what they don't tell people is that in order to do that you actually need to do some work." "The entire idea of a four-hour work week that sounds marvellous. The people who do have that kind of lifestyle there's a good deal 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 put in.She says that hankering for a"magic bullet" often arises when people believe that they should be further forward financially.The danger is they can put 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 what it is like to live the passive income fantasy.

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 two years while she completed her university studies and leased the second bedroom to another student. "At university, folks thought I was crazy, 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 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 stocks in future to secure income streams from dividends.While it's 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 town and what prices are doing," she states.

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You do need to dedicate a reasonable bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking care of the house. "That's probably been the biggest learning: that if you let that fester, you are giving off a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has another 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 and Values, a leadership coaching firm. She has created another type of passive income via her business, but is scathing of the idea that individuals can quickly tap into an online passive income stream.

To really make it is not simple," she says. "When you put a product online, you've got to have a very clear method of how you will drive visitors to it. "Her own passive income stream comes from a completely validated psychometric tool that measures see here now 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 low cost. "I have literally spent $500,000 to get it to where it is," she says.This year, she's been transforming her book, The Power of Focus, a goal-setting guide that has already sold 15,000 copies, into an online application.

What forced me to do it was I sold out of books," she says. However, she adds, it is a project that's taken the entire year.She probably sums up the successful route to passive income best when she says:"It is 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 mulled boosting his earning ability by getting an architecture license, great site but the process would probably take six to eight years. When he heard about getting a credential in sustainable design and environmentally friendly building named Leadership in Energy and Environmental Design (LEED), he decided to go for this, as no one in his department had it.

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