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On his website, he rolls down expectations that passive income is easy money, stating:"Earning any sort of income online takes a great deal of hard work, a great deal of patience and a bit of luck, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it is something which we are 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 a few people, the term"passive income" has become synonymous with an income which 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 plans.

However, what they don't tell people is that in order to perform that you truly need to do some work." "The whole thought of a four-hour work week which sounds marvellous. The men and women who have that kind of lifestyle there's a good deal of work they've done in the background for them to that position. "Carter thinks it is an attempt most people are not prepared to put in.She says that hankering for a"magic bullet" often arises when people believe they should be further forward financially.The danger is that they can put their trust in get-rich-quick approaches, or kid themselves that passive income flows are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows what it is like to live that the passive income dream.

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 2 years while she completed her university studies and leased 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 years, the unit was putting money into her pocket and the equity provided a stepping stone to 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 more 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 stocks 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 property in your area and what costs are doing," she states.

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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 when a tenant isn't taking care of their property. "That has probably been the greatest learning: that if you i was reading this let that fester, you're giving away a lot of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she's another bank account for each property. At that time, she downloads the transactions and a spreadsheet totals everything. "I just go through and check it. "Jennifer Elliott is the founder and chief executive of Integrity and Values, a leadership coaching firm. She has created another kind of passive income through her business, but is scathing of the notion that individuals can easily tap into an online passive income flow.

To actually make it is not easy," she states. "When you put a product online, you have to have an extremely clear method of how you'll drive people to it. "Her own passive income stream comes out of 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 low price. "I've spent $500,000 to get it to where it is," she's says.This year, she's been transforming her book, The Power of Focus, a goal-setting guide that has already 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 job that's taken the entire year.She probably sums up the Discover More successful route to passive income best 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, but the procedure would likely take six to eight years. When he heard about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he chose to go for this, as no one in his department needed it.

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