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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any sort of income online takes a great deal 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 is something which we are going to have to put as a long-term goal and focus on a business model that enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some people, the term"passive income" has almost become synonymous with an income which you can earn 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 plans.

However, what they don't tell folks is that in order to do that you actually need to do some work." "The entire idea of a four-hour work week which sounds marvellous. The men and women who have that kind of lifestyle there's a lot of work they've done in the background for them to that position. "Carter thinks it's an attempt most people are not ready to put in.She claims that hankering for a"magic bullet" often arises when people feel they ought to be further forward financially.The danger is they can put their hope in get-rich-quick approaches, or child themselves that passive income streams are"set and forget" and don't require 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 completed 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 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 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 streams from dividends.While it has become easier as she has accelerated along the learning curve, she acknowledges there's work involved. "You do have to become something of an expert about real estate in your town and what costs are doing," she says.

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You need to commit a reasonable bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or if a tenant isn't taking good care of the property. "That has probably been the greatest learning: that if you allow that fester, you are giving off a great deal of your earnings. "Filipich has found methods to reduce visit the site tax-time demands.

Now, she's a separate bank account for each property. At that time, she downloads the transactions and also 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 firm. She has created another type of passive income through her business, but is scathing of the notion that people can easily tap into an online passive income flow.

To actually make it is not easy," she says. "When you set a product online, you have to have 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 leadership, which she put online in 2000.

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The online tool evolved out of 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'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 I sold out of books," she says. However, she adds, it's a job that has taken the entire year.She likely sums up the successful path to passive income best when she says:"It is about monetising that which 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 mulled boosting his earning ability by getting an architecture license, but the process would likely take six to eight years. 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 go for that, as no one in his department needed it.