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On his website, he hoses down expectations that passive income is easy 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 need 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 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 people in investment and wealth strategies.

But 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 people who do have that kind of lifestyle there's a good deal of work they've done in the background to get them to this position. "Carter thinks it is an attempt most people are not prepared to place in.She claims that hankering for a"magic bullet" often arises when people believe that they ought to be further ahead financially.The danger is that they can put their hope in get-rich-quick approaches, or child themselves that passive income streams 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 dream.

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 2 years while she finished 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 space for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone to other land investments. "Having had that one really great start 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 latest 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 flows from dividends.While it's become easier as she's accelerated along the learning curve, she acknowledges there's 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 need to commit a reasonable bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking care of their house. "That has probably been the biggest learning: that in case you allow that fester, you're giving off 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 check it. "Jennifer Elliott is the founder and chief executive of Integrity and Values, a leadership coaching company. She has created another kind of passive income via 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 put a product online, you have to have an extremely clear way of how you'll drive people to it. "Her own passive income stream comes from a completely validated psychometric tool that measures integrity and leadership, which she put go to this website online in 2000.

 

 

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The online tool evolved out of a tried and tested paper version.Nor did it come at a low cost. "I've literally 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 that I sold out of books," she says. But, she adds, it's a project that's taken the entire year.She probably sums up the successful route to passive income best when she says:"It is about monetising that which 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 whined boosting his earning ability by getting an architecture license, however, the process would probably 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 decided to go for this, as no one in his department needed it.

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