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On his blog, he hoses down expectations that passive income is easy 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, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it is something which we are going to need to put as a long-term goal and focus on a business model which allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo some people, the term"passive income" has almost become synonymous with an income that 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 actually need to do some work." "The whole thought of a four-hour work week which sounds marvellous. The people who have that kind of lifestyle there is 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 ready to place in.She claims that hankering for a"magic bullet" often arises when folks believe they ought to be farther forward financially.The danger is that they can set their hope in get-rich-quick approaches, or kid themselves that passive income flows 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 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 two years while she completed her university studies and allowed the second bedroom to another student. "At university, folks thought I was crazy, but it worked out cheaper than renting a room for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone to other property investments. "Having had that one quite great 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 brand new venture, Money School, involves teaching others how to follow in her footsteps and she also plans to direct money into stocks in future to secure income flows from dividends.While it's 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 states.

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You need to commit a reasonable bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or if 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 away a lot of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she has a separate 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 chief executive of Integrity and Values, a leadership coaching company. She has created another kind of passive income via her business, but is scathing of the idea that people can quickly tap into an online passive income flow.

To really make it's not easy," she says. "When you put a product online, you have to have resource an extremely 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 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 arrived at a low cost. "I've literally spent $500,000 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 compelled me to do it was that I offered from books," she states. But, she adds, it is a project that's taken the entire year.She probably sums up the successful route to passive income when she states:"It's about monetising what you do nicely already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 annually. He mulled boosting his earning power by getting an architecture license, but the process would likely take six to eight decades. When he learned about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he decided to really go for that, as no one in his department needed it.