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On his website, 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 bit of luck, also. "In the end, Trzeciak set up an online marketing solutions 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 which enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few people, the word"passive income" has become synonymous with an income which you can earn without any effort.Deanne Carter, national sales manager of JDL Plans, has been to countless financial seminars and coached hundreds of men and women 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 which sounds marvellous. The people who have that kind of lifestyle there's a lot of work they've done in the background to get them to this position. "Carter thinks it's an attempt most people are not prepared to place in.She says that hankering for a"magic bullet" often arises when people feel that they ought to be further forward financially.The danger is they can put their trust in get-rich-quick schemes, or child themselves that passive income flows are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows exactly what it is like to live the passive income fantasy.

In 2001, at age 19, instead of buying a vehicle, she used her savings to buy 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 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 quite great 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 plans to direct money into shares 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 of an expert about real estate in your town and what costs are doing," she says.

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You do need to dedicate a reasonable bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking good care of the property. "That's probably been the greatest learning: that in case you allow that fester, you're giving away 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 that time, she downloads the transactions and also a spreadsheet totals everything. "I simply go through and assess it. "Jennifer Elliott is the founder and chief executive of Integrity and blog Values, a leadership coaching company. She has created another type of passive income via her business, but is scathing of the notion that people can quickly tap into an online passive income flow.

To really create it is not simple," she says. "When you put a product online, you've got to get an extremely clear method of how you'll drive people to it. "Her own passive income stream comes out of a completely validated psychometric tool that measures integrity and direction, 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 minimal cost. "I have literally 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 manual which has sold 15,000 copies, into an online application.

What forced me to do it was I sold from books," she states. But, she adds, it is a job that's taken the entire year.She likely sums up the successful path to passive income when she says:"It is about monetising that which you do nicely 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 procedure would likely take six to eight decades. 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 really go for that, as no resource one in his department had it.

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