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On his blog, he rolls 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, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something that we are going to have 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 people, the term"passive income" has almost become synonymous with an income that you can earn 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 do that you truly need to do some work." "The whole idea 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 this position. "Carter thinks it is an attempt most people are not prepared to place in.She says that hankering for a"magic bullet" often arises when folks feel they ought to be farther ahead financially.The danger is that they can set their trust in get-rich-quick approaches, or kid themselves that passive income streams are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows exactly what it is like to live that the passive income fantasy.

In 2001, at age 19, instead of buying a vehicle, she used her savings to buy a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for two years while she completed her university studies and allowed the second bedroom to another student. "At university, people thought I was crazy, 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 land investments. "Having had that one quite great start 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 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 is work involved. "You do have to become something of an expert about real estate in your area and what costs are doing," she says.

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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 the house. "That's probably been the biggest learning: that in case you allow that fester, you're giving away a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has another bank account for each property. At that time, she downloads the transactions and also 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 successfully created another kind of passive income via her business, but click resources is scathing of the idea that people can easily tap into an online passive income flow.

To really make it's not simple," she states. "When you set a product online, you have to get a very clear method of how you will drive people to it. "Her own passive income stream comes from a fully validated psychometric tool that measures integrity and leadership, which she put online in 2000.

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The online tool view publisher site evolved from a tried and tested paper version.Nor did it come at a low cost. "I have 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 manual that has sold 15,000 copies, into an online application.

What forced me to do it was I offered from books," she says. However, she adds, it is a project that's taken the entire year.She likely sums up the effective path to passive income when she states:"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 a year. He mulled boosting his earning power 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 go for this, as no one in his department needed it.