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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any type of income online requires 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 services business, PixelRush. "We decided it is something that we're going to have to put as a long-term goal and focus on a business model which allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, 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 Plans, has been to countless financial seminars and coached hundreds of people in investment and wealth strategies.

However, what they don't tell people is that in order to perform that you truly need to do some work." "The entire thought of a four-hour work week that sounds marvellous. The people who have that kind of lifestyle there is a lot of work they've done in the background for them to this position. "Carter thinks it is an effort most individuals are not prepared to place in.She says that hankering for a"magic bullet" often arises when folks feel they ought to be farther forward financially.The danger is they can put their trust in get-rich-quick approaches, or child themselves that passive income streams are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows what it's like to live 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 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 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 good beginning early in life has made a big 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 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 costs are doing," she says.

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You need to dedicate 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 house. "That has probably been the biggest learning: that in case you allow that fester, you're giving away a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has a separate 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 firm. She has created another More Help kind of passive income via her business, but is scathing of the idea that people can easily tap into an online passive income flow.

To actually create it's not easy," she states. "When you set a product online, you've got to have a very clear method of how you will drive visitors to it. "Her own passive income stream comes from a fully validated psychometric tool which 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's says.This year, she's been transforming her novel, The Power of Focus, a goal-setting guide which has sold 15,000 copies, into an online application.

What compelled me to do it directory was I sold out of books," she states. However, she adds, it's a project that has taken the entire year.She probably sums up the effective path to passive income when she says:"It's about monetising what you do nicely already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 a year. He whined boosting his earning ability by getting an architecture license, however, the procedure would probably take six to eight decades. When he heard about getting a credential in sustainable design and environmentally friendly building named Leadership in Energy and Environmental Design (LEED), he decided to really go for that, as no one in his department needed it.