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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 lot of hard work, a great deal of patience and a little 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 focus on a business model which enables 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 earn 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.

But what they don't tell people is that in order to perform that you truly need to do some work" "The whole idea of a four-hour work week that 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 for them to that position. "Carter thinks it is an attempt most people are not ready to put in.She says that hankering for a"magic bullet" often arises when folks feel they ought to be further ahead financially.The danger is that they can put their hope in get-rich-quick schemes, or kid themselves that passive income flows are"set and forget" and don't require any attempt 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 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 leased the second bedroom to another student. "At university, people thought I was crazy, but it worked out cheaper than renting a room 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 really 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 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 need to become something check that of an expert about real estate in your area and what costs are doing," she states.

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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 property. "That has probably been the biggest learning: that if you allow that fester, you are giving away a great deal of your earnings. "Filipich has found methods to reduce tax-time demands.

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

To actually make it is not simple," she says. "When you set a product online, you've got to have a very clear method of how you'll drive people to it. "Her own passive income stream comes from 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 cost. "I have literally spent $500,000 Go Here to get it to where it is," she says.This year, she look what i found has been transforming her book, The Power of Focus, a goal-setting guide which has sold 15,000 copies, into an online application.

What compelled me to do it was that I offered from books," she says. But, she adds, it's a project that has taken the entire year.She probably sums up the successful route to passive income best when she says:"It's about monetising what you do well already. "Loading.

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 a year. He mulled boosting his earning ability by getting an architecture license, but the process would probably take six to eight years. When he learned about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he chose to go for this, as no one in his department had it.