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On his blog, he rolls down expectations that passive income is easy money, stating:"Earning any sort of income online requires a lot of hard work, a lot of patience and a bit of luck, too. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something which we're going to have to put as a long-term goal and concentrate on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the term"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 men and women in investment and wealth plans.

However, what they don't tell people is that in order to do that you truly need to do some work." "The entire thought of a four-hour work week which sounds marvellous. The people who do 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 effort most individuals are not prepared to put in.She claims that hankering for a"magic bullet" often arises when folks believe they ought to be further forward financially.The danger is they can set their hope in get-rich-quick approaches, or child themselves that passive income streams are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly what it is like to live the passive income fantasy.

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 two years while she finished her university studies and allowed the second bedroom into another student. "At university, folks thought I was mad, but it worked out cheaper than renting a space 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 rental properties," she says.Her brand new 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'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 says.

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You do need to commit 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 care of the house. "That's probably been the biggest learning: that in case you let that fester, you're giving away a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

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

To really create it is not easy," she says. "When you set a product online, you have to get a advice very clear method of how you will drive visitors to it. "Her own passive income stream comes from a fully 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 cost. "I have literally spent $500,000 to get it to where it is," she says.This year, she has been transforming her novel, The Power of Focus, a goal-setting guide that has sold 15,000 copies, into an online application.

What forced me to do it was that I offered from books," she states. However, she adds, it is a job that's taken the entire year.She probably sums up the successful path to passive income when she states:"It's about monetising that which you do nicely already. "Loading.

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

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