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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 lot 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's something that we're going to need to put as a long-term goal and concentrate on a business model that 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 Strategies, has been to countless financial seminars and coached hundreds of people in investment and wealth strategies.

However, what they don't tell folks is that in order to do that you truly need to do some work." "The whole thought of a four-hour work week which sounds marvellous. The people who do have that kind of lifestyle there's a good deal of work that they've done in the background to get them to that position. "Carter thinks it is an attempt most individuals are not ready to put in.She says 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 schemes, or child themselves that passive income flows are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly what it's like to live the passive income fantasy.

In 2001, at age 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 two years while she completed her university studies and leased the second bedroom into another student. "At university, folks thought I was crazy, but it worked out cheaper than renting a space for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone into other property investments. "Having had that one really great beginning early in life has made a this post 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 has accelerated along the learning curve, she acknowledges there is work involved. "You do need to become something of an expert about real estate in your area and what costs are doing," she says.

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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 when a tenant isn't taking care of the property. "That has probably been the biggest learning: that if you let that fester, you're giving away a great deal of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's another bank account for every property. At that time, she downloads the transactions and a spreadsheet totals everything. "I just go through and check it. "Jennifer Elliott is the founder and leader 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 individuals can quickly tap into an online passive income flow.

To actually create it's not easy," she says. "When you set a product online, you've got to have a very clear way of how you will drive people to it. "Her own passive income stream comes out of a fully validated psychometric tool that measures integrity and direction, 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 arrived at a low price. "I have spent $500,000 to get it to where it is," she's says.This year, she's been transforming her book, The Power of Focus, a goal-setting manual which has sold 15,000 copies, into an online application.

What compelled me to do it was I sold from books," she states. However, she adds, it is a project that's taken the entire year.She probably sums up the successful path to passive income best 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 a year. He mulled boosting his earning power by getting an architecture license, however, the procedure 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 go for this, as no one in his department had it.