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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 little bit of luck, too. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something that we're going to have to put as a long-term goal and focus 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 people in investment and wealth strategies.

However, what they don't tell folks 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 men and women who do have that kind of lifestyle there's a lot of work they've done in the background for them to that position. "Carter thinks it is an attempt most individuals are not ready to put in.She says that hankering for a"magic bullet" often arises when folks believe they should be farther forward financially.The danger is they can put their trust in get-rich-quick approaches, or child themselves that passive income flows 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 fantasy.

In 2001, at age 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 to another student. "At university, folks 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 really 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 also plans to direct money into shares 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 have to become something of an expert about real estate in your area and what prices 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 if a tenant isn't taking good care of the house. "That has probably been the biggest learning: that in case you let that fester, you are giving off a great deal of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's another bank account for every property. At tax time, she downloads the transactions and also 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 successfully created another type of passive income through her business, but is scathing of the notion that individuals can easily tap into an online passive income stream.

To actually make it's not easy," she states. "When you set a product online, you've got to have a very clear method of how you'll drive people to it. "Her own passive income stream comes from 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 come at a low price. "I have literally spent $500,000 to get it to where it is," she says.This year, she has been a fantastic read 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 was that I sold out of books," she states. However, she adds, it is a project 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 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 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 really go for this, as no one in his department had it.

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