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On his blog, he rolls 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 little bit of luck, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it's something that we're going to need to put as a long-term target and focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few 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 Plans, has been to countless financial seminars and coached hundreds of people in investment and wealth plans.

But what they don't tell people is that in order to perform that you truly need to do some work." "The entire idea of a four-hour work week which sounds marvellous. The men and women who have that kind of lifestyle there is a lot of work that they've done in the background to get them to this position. "Carter thinks it is an attempt most individuals are not ready to place in.She says that hankering for a"magic bullet" often arises when people believe that they should be farther forward financially.The danger is they can put their trust in get-rich-quick approaches, or kid themselves that passive income streams are"set and forget" and don't need any attempt 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 purchase a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for two years while she completed her university studies and leased the second bedroom to another student. "At university, people thought I was mad, 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 land investments. "Having had that one really 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 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's work involved. "You look here do have to become something of an expert about real estate in your town and what costs are doing," she states.

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You do 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 the property. "That has probably been the greatest learning: that in case you allow that fester, you are giving away a great deal of your earnings. "Filipich has found methods to reduce tax-time demands.

Now, she has 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 he said the founder and chief executive of Integrity and Values, a leadership coaching company. She has created another kind of passive income through her business, but is scathing of the idea that people can easily tap into an online passive income stream.

To actually create it is not easy," she states. "When you set a product online, you have to have a very clear way of how you will drive people 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's," 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 compelled me to do it was I sold out of books," she says. However, she adds, it's a project that has taken the entire year.She probably sums up the successful path to passive income when she states:"It is 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, but 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 that, as no one in his department had it.

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