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On his blog, he rolls 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, 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 focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the word"passive income" has almost become synonymous with an income which you can make 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 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 that sounds marvellous. The people who have that kind of lifestyle there's a lot of work they've done in the background to get them to this 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 folks believe they ought to be farther forward financially.The danger is that they can put their hope in get-rich-quick approaches, or kid themselves that passive income flows are"set and forget" and don't need any effort 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 buy a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for 2 years while she finished her university studies and leased the second bedroom to another student. "At university, people 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 property investments. "Having had that one really 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 also plans to direct money into shares in future to secure income streams from dividends.While it has 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 has developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking care of their house. "That has probably been the greatest learning: that in case you let that fester, explanation you're giving off a lot of your earnings. "Filipich has found ways to cut back tax-time demands.

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

To actually create it's not easy," she states. "When you set 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 out of a completely validated psychometric tool that 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 come at a minimal price. "I've spent $500,000 to get it to where it's," she's says.This year, she's been transforming her book, The Power of Focus, a goal-setting manual which 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's a project that's taken the entire year.She likely sums up the effective route to passive income best when she states:"It is about monetising what you company website do well already. "Loading. next

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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 ability 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 named Leadership in Energy and Environmental Design (LEED), he decided to really go for this, as no one in his department had it.

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