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On his website, he hoses 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, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it is something which we're going to need to put as a long-term target and concentrate on a business model that 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 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 idea of a four-hour work week that 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 individuals are not prepared to put in.She says that hankering for a"magic bullet" often arises when people believe that they ought to be further forward financially.The danger is that they can put their trust in get-rich-quick schemes, or child themselves that passive income flows are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows what it's like to live that 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 finished her university studies and allowed the second bedroom to another student. "At university, people thought I was mad, 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 good start early in life has made a major 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 also plans to direct money into stocks in future to secure income flows from dividends.While it has 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 states.

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You do need to commit a fair bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking good care of their property. "That has probably been the greatest learning: that if you let that fester, you're giving visit site off a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she has another bank account for every property. At tax time, she downloads the transactions and a spreadsheet totals everything. "I simply 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 through her business, but is scathing of the notion that individuals can quickly tap into an online passive income flow.

To actually make it's not simple," she says. "When you set a product online, you've got to have a very clear way of how you'll drive people to it. "Her own passive income stream comes about his from a completely validated psychometric tool that measures integrity and leadership, 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 to get it to where it is," she's says.This year, she has been transforming her novel, The Power of Focus, a goal-setting manual which has already sold 15,000 copies, into an online application.

What forced me to do it was I sold out of books," she says. But, she adds, it's a job that's 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 annually. He mulled boosting his earning ability 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 his response friendly building called Leadership in Energy and Environmental Design (LEED), he decided to really go for this, as no one in his department had it.