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On his blog, he rolls 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 bit of luck, too. "In the end, Trzeciak set up an online marketing solutions business, PixelRush. "We decided it's something that we are going to have to put as a long-term goal and concentrate on a business model which enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the term"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 men and women in investment and wealth strategies.

However, what they don't tell people is that in order to perform that you truly need to do some work." "The whole 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 people are not prepared to place in.She claims that hankering for a"magic bullet" often arises when people feel they ought to be further ahead financially.The danger is they can put their hope in get-rich-quick schemes, or kid themselves that passive income flows are"set and forget" and don't require any effort to maintain.Lacey Filipich, 33, knows exactly 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 buy 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 space for me," she says.Within four years, 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 more rental properties," she says.Her brand new 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 has accelerated along the learning curve, she acknowledges there is work involved. "You do need to become something of an expert about property in your area and what costs are doing," she says.

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You need to dedicate a fair 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 the property. "That has probably been the biggest learning: that in case you let that fester, you are giving off a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

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

To actually create it's not easy," she states. "When you set a product online, you have to have a very clear method of how you'll drive visitors 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 come at a minimal cost. "I have literally 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 manual that has already sold 15,000 copies, into an online application.

What compelled me to do it was I offered out of books," she says. However, she adds, it is a job that's taken the entire year.She probably sums up the effective route to passive income best when she states:"It's about monetising that which you do nicely 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 power by getting an architecture license, however, the process would likely 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 this, as no one in his department had it.

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