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On his website, he rolls down expectations that passive income is simple money, stating:"Earning any sort 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're going to need 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 folks, the word"passive income" has almost become synonymous with an income which you can make 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 strategies.

But what they don't tell people is that in order to perform that you actually need to do some work." "The entire thought of a four-hour work week that sounds marvellous. The men and women who do have that kind of lifestyle there is a lot of work that they've done in the background for them to that position. "Carter thinks it's an effort most individuals are not ready to put in.She claims that hankering for a"magic bullet" often arises when people believe they ought to be farther forward financially.The danger is they can put their hope in get-rich-quick schemes, or child themselves that passive income streams are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows exactly what it's 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 2 years while she completed her university studies and allowed the second bedroom into another student. "At university, people thought I was mad, but it worked out cheaper than renting a space official website for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone into other land 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 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 streams from dividends.While it's become easier as she's accelerated along the learning curve, she acknowledges there is work involved. "You do need to become something of an expert about property in your town and what prices are doing," she says.

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You need to dedicate 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 in case you let that fester, you are giving away a great deal of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has a separate bank account review for each property. At tax time, she downloads the transactions and 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 firm. She has created another type of passive income via her business, but is scathing of the notion that people can easily tap into an online passive income flow.

To really make it is not simple," she states. "When you set a product online, you have to have an extremely clear method of how you will drive visitors to it. "Her own passive income stream comes 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 from a tried and tested paper version.Nor did it arrived at a low cost. "I've spent $500,000 to get it to where it is," she says.This year, she's been transforming her book, The Power of Focus, a goal-setting manual which more helpful hints has sold 15,000 copies, into an online application.

What compelled me to do it was I sold from books," she says. But, she adds, it is a job 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 annually. He mulled boosting his earning ability by getting an architecture license, however, the process would probably take six to eight decades. When he heard about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he decided to go for this, as no one in his department had it.