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On his website, he hoses down expectations that passive income is simple money, stating:"Earning any sort of income online takes a lot of hard work, a lot of patience and a little bit of luck, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it is something which we're going to need to put as a long-term goal and concentrate on a business model that allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the word"passive income" has become synonymous with an income which 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 plans.

However, what they don't tell folks is that in order to perform that you actually need to do some work" "The entire 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 that they've done in the background for them to that position. "Carter thinks it's an effort most people are not prepared to place in.She says that hankering for a"magic bullet" often arises when folks feel that they ought to be further forward financially.The danger is they can put their trust in get-rich-quick schemes, or kid themselves that passive income streams are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly what it's 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 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 into other property investments. "Having had that one really good beginning 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 latest venture, Money School, involves teaching others how to follow in her footsteps and she plans to direct money into stocks 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 real estate in your area and what prices are doing," she states.

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You do need to dedicate 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 good care of their house. "That's probably been the biggest learning: that in case you let that fester, you're 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 every property. At that time, she downloads the transactions and a spreadsheet totals everything. "I just go through and check it. "Jennifer Elliott is the founder and leader of Integrity and Values, a leadership coaching company. She has successfully created another type of passive income through her business, but is scathing of the notion that individuals can quickly tap into an online passive income flow.

To really create it is not easy," she says. "When you put a product online, you've got 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 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 low cost. "I have literally spent $500,000 moved here to get it to where it's," she says.This year, she has been transforming her book, The Power of Focus, a goal-setting manual that has already sold 15,000 copies, into an online application.

What forced me to do it was I offered out of books," she states. But, she adds, it is a job that's taken the entire year.She likely sums up the successful route to passive income when she says:"It's about monetising what you do well 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 ability by getting an architecture license, 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 chose to really go for this, as no one in his department had it.