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On his website, he hoses down expectations that passive income is easy money, stating:"Earning any type of income online takes 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 concentrate on a business model that allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo a few folks, the word"passive income" has almost become synonymous with an income that 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 actually need to do some work." "The entire thought of a four-hour work week which sounds marvellous. The people who do have that kind of lifestyle there's a lot of work that they've done in the background for them to this position. "Carter thinks it is an attempt most people are not ready to put in.She says that hankering for a"magic bullet" often arises when people believe that they ought to be farther ahead financially.The danger is that they can set their hope in get-rich-quick schemes, or child themselves that passive income flows are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly what it's like to live that the passive income dream.

In 2001, at age 19, instead of buying a vehicle, 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, folks thought I was mad, but it worked out cheaper than renting a room for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone to other land investments. "Having had that one quite 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 also plans to direct money into shares 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 have to become something of an expert about property in your area and what costs are doing," she says.

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You do need to commit 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 good care of the house. "That's probably been the biggest learning: that if you allow that fester, you're giving off a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she has a separate bank account for every property. At tax time, she downloads the transactions and a spreadsheet totals everything. "I simply go through and assess 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 idea that people can easily tap into an online passive income flow.

To actually create it's not easy," she states. "When you set a product online, you have to get a very clear method of how you will drive visitors to it. "Her own passive income stream comes out of a fully validated psychometric tool that 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 have 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 manual which has sold 15,000 copies, into an online application.

What forced me to do it was that I sold from books," she says. However, she adds, it's a job that has taken the entire year.She likely sums up the successful route to passive income when she says:"It's about monetising what you do well already. "Loading.

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 a year. He whined boosting get more his earning ability by getting an architecture license, but the procedure would likely 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.