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On his website, he hoses down expectations that passive income is simple money, stating:"Earning any sort of income online requires a lot of hard work, a lot of patience and a little bit of luck, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it is something which we're going to need to put as a long-term goal and focus on a business model that allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few people, 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 people in investment and wealth strategies.

However, what they don't tell folks is that in order to do that you actually need to do some work." "The whole thought of a four-hour work week that sounds marvellous. The people who do have that kind of lifestyle there is a lot of work they've done in the background to get them to that position. "Carter thinks it is an effort most individuals are not prepared to place in.She says that hankering for a"magic bullet" often arises when people believe that they ought to be farther forward financially.The danger is they can set 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's like to live that 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 completed her university studies and allowed the second bedroom into another student. "At university, people 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 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 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'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 town and what prices are doing," she states.

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You need to commit 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 their property. "That's probably been the biggest learning: that in case you let that fester, you are giving away a great deal of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she has another bank account for each property. At tax time, she downloads the transactions and 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 successfully created another kind of passive income through her business, but is scathing of the notion that people can quickly tap into an online passive income flow.

To really make it's not simple," she says. "When you put a product online, you have to have a very 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 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's says.This year, she has 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 offered from books," she states. But, she adds, it's a project that's taken the entire year.She probably sums up the successful path to passive income when she says:"It is about monetising what you do well click this site already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 a year. He mulled boosting his earning ability by getting an architecture license, but the procedure would probably 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 had it.

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