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On his website, he rolls down expectations that passive income is simple money, stating:"Earning any type of income online takes a lot of hard work, a lot of patience and a bit of luck, also. "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 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 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 strategies.

However, what they don't tell folks is that in order to do that you actually need to do some work." "The whole idea of a four-hour work week which sounds marvellous. The people who have that kind of lifestyle there is a lot of work that they've done in the background to get them to that 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 people 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 streams are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows what it's like to live that the passive income fantasy.

In 2001, at the age of 19, instead of buying a vehicle, 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 for me," she says.Within four years, 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 latest venture, Money School, involves teaching others how to follow in her footsteps and she plans to direct money into shares in future to secure income streams 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 town and what prices 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 good care of their property. "That has probably been the biggest learning: that in case you allow that fester, you are giving away a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

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

To really make it is not simple," she says. "When you put a product online, you have to have a very clear method of how you'll drive visitors to Look At This 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 have spent $500,000 to get it to where it is," she says.This year, she's been transforming her novel, The Power of Focus, a goal-setting guide that has sold 15,000 copies, into an online application.

What forced me to do it was I sold from books," she says. But, she adds, it is a project that's taken the entire year.She likely sums up the successful route important link to passive income when she states:"It's about monetising that which you do well already. "Loading.

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

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