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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 which we are going to need to put as a long-term goal and focus on a business model which enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few folks, the word"passive income" has 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 men and women in investment and wealth strategies.

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

In 2001, at the age of 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 finished her university studies and leased the second bedroom into 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 property investments. "Having had that one quite good beginning 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 plans to direct money into stocks in future to secure income flows from dividends.While it has become easier as she has accelerated along the learning curve, she acknowledges there is work involved. "You do have to become something of an expert about property in your town and what costs are doing," she says.

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You need to dedicate a fair bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking care of their house. "That has probably been the biggest learning: that in case you let that fester, you're giving off a lot of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she has a separate bank account for every property. At that time, she downloads the transactions and a spreadsheet totals everything. "I just go through and assess it. "Jennifer Elliott is the founder and leader of Integrity and Values, a leadership coaching firm. She has successfully created another kind of passive income via her business, but is scathing of the idea that individuals can easily tap into an online passive income flow.

To really create it's not easy," she states. "When you put a product online, you've got to get an extremely clear method of how you will drive visitors to it. "Her own passive income stream comes from a completely validated psychometric tool which measures integrity and direction, which she put online in 2000.

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The online tool evolved out of a tried go to this site and tested paper version.Nor did it arrived at a low cost. "I have spent $500,000 to get it to where it is," she says.This year, she has been transforming her novel, The Power of Focus, a goal-setting guide that has already sold 15,000 copies, into an online application.

What forced me to do it was that I sold from books," she says. But, she adds, it is a job that has taken the entire year.She likely sums up the successful 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 at an architecture firm making $38,000 a year. He mulled boosting his earning ability by getting an architecture license, however, the process would probably take six to eight decades. When he learned about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he chose to really go for that, as no one in his department had it.