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All entrepreneurs find passive income. What only a few know, however, is the way to separate reality from fiction.

Wouldn't it be great to earn money while you're relaxing on the beachRelated: 17 Passive Income Suggestions for Automating Your Money FlowFew concepts are more appealing than passive income. After all, what could be better than making money without having to do any work When you read headlines which Amazon founder Jeff Bezos currently earns more than 230,000 each second, it's only natural to start wondering how you too can earn money when you are not working.Even in case you don't generate as much passive income as Bezos, an additional source of revenue could make it possible for you to leave the daily grind of the 9-to-5 workday so that you might pursue entrepreneurial dreams or journey the world.But, generating passive income isn't as straightforward or straightforward as some of the planet's richest people can make it seem to be.

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Even more importantly, it demands that you devote your own time and investments in the right areas.If you're seriously interested in using passive income to increase your quality of life, you can't afford to fall for these seven persistent myths.1. You can"set and forget" your revenue streams.This is possibly the most dangerous myth associated with passive income.We all like the notion of not needing to do any additional work after setting up a site or online shop.

Website visitors expect new content on a consistent basis. People who enroll in an online course anticipate personalized support when they encounter a problem. The internet itself is constantly changing.If you aren't doing what you can to remain on top of industry changes, customer expectations and other responsibilities you'd find in any"busy" business, your passive income will dry up.

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You'll also probably need to continually fine-tune your idea to help it stay relevant.Passive income still needs an energetic presence.Related: 7 Ways to Generate Extra Income Even Having a Full-Time Job2. You only need a single weekend to get started.It's simple to assume that anyone can throw together a site or another passive income source in a single weekend.

Adams, bloggers need to find the right niche, pick a web hosting platform and purchase a domain name just to get started. After that, they still need to learn about browser caching, SEO, permalinks and much more -- and don't forget about writing good content and uploading quality images!Needless to say, you likely won't be able to do this all in a single weekend.Be willing to take some time to learn the specific opportunities and challenges linked to your thought, and put in the effort pop over to these guys to get it right.

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Quality will win over rate every time.Related: Serious Entrepreneurs Have 2 Aims: Exotic Income and Multiple Revenue Streams3. One strong source of income is all you need.Another dangerous myth of passive income is that you can generate all the money you need with a single source of revenue. This is like putting all of your stock exchange investments into a single company.

By diversifying your revenue flows, you will get a better probability of earning enough to support your needs.Related: 11 Ways to Make Money While You Sleep4. Real estate is the safest form of click for more info passive income.With home and property values increasing at a rapid rate across the country, many individuals are falling for the idea that property management and home flipping are simple procedures of generating passive income.In fact, effective home management is never really"passive." Property repairs and updates, dealing with poor tenants and other unexpected expenses are surprisingly common, eating away at the income you would hope to generate from such endeavors.It quickly becomes evident that land management and other property investments rarely generate the ROI investors anticipate.

Selling a home, rather than attempting to manage it, is finally a safer (and easier) solution.Related: 3 Great Ways official site to Make Money on the Side5. You need a business idea to earn good money.When you read about passive income, it can be simple to become caught up in the idea that you need to become an entrepreneur or purchase property.

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Many individuals generate each of the passive income they need simply by putting money in savings and retirement accounts.While such accounts might not look as lucrative as an exciting new business ideathey function as a much lower-risk solution for individuals hoping to have enough to fund their future plans. Most investors say you ought to expect a 5 percent return on investment from the retirement accounts each year.That might not sound like much, but as you consistently add to those accounts over time, the expansion can prove significant.

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