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On his blog, he hoses down expectations that passive income is simple money, stating:"Earning any type of income online requires a great deal of hard work, a great deal of patience and a bit of luck, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something which we are going to need to put as a long-term goal and focus on a business model which 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 men and women in investment and wealth strategies.

But what they don't tell folks is that in order to do that you truly need to do some work" "The entire idea of a four-hour work week which sounds marvellous. The people who have that kind of lifestyle there's a good deal of work they've done in the background to get them to this position. "Carter thinks it is an effort most people are not ready to put in.She says that hankering for a"magic bullet" often arises when people feel they ought to be further forward financially.The danger is they can put their hope 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 what it's like to live the passive income dream.

In 2001, at age 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 completed 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 space for me," she says.Within four decades, the unit was putting money more information into her pocket and the equity provided a stepping stone to other land investments. "Having had that one quite good beginning 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's become easier as she's accelerated along the learning curve, she acknowledges there's work involved. "You do have to become something of an expert about real estate in your area and what prices 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 if a tenant isn't taking good care of the property. "That's probably been the biggest learning: that if you allow that fester, you're giving off a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has a separate 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 leader 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 notion that people can easily tap into an online passive income flow.

To really create 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 out of a completely 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've literally spent $500,000 to get it to where it is," she's says.This year, she's been transforming her novel, The Power of Focus, a goal-setting manual that has sold 15,000 copies, into an online application.

What compelled me to do it was that I sold out of books," she says. But, she adds, it's a job that has taken the entire year.She likely sums up the effective path to passive income best when she says:"It's about monetising that which you do well already. "Loading.

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 annually. He whined boosting his earning ability by getting an architecture license, but the procedure would probably take six to eight decades. When he heard about getting a credential in sustainable design and environmentally friendly building named Leadership in Energy and Environmental Design (LEED), he chose additional resources to go for that, as no one in his department needed it.

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