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On his website, 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 services business, PixelRush. "We decided it's something which we're going to have to put as a long-term target 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 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.

But what they don't tell people is that in order to do that you actually need to do some work." "The whole idea of a four-hour work week that sounds marvellous. The men and women who do have that kind of lifestyle there's a good deal of work that they've done in the background for them to this position. "Carter thinks it is an attempt most individuals are not prepared to put in.She says that hankering for a"magic bullet" often arises when folks feel they ought to be further ahead financially.The danger is they can put their hope in get-rich-quick approaches, or child themselves that passive income flows are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows exactly what it is like to live that the passive income dream.

In 2001, at the age of 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 to 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 really good beginning early in life has made a big 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 is work involved. "You do need to become something of an expert about real estate in your area and their explanation what costs are doing," she says.

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You do need to commit a reasonable bit of time. "She has developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking good care of the house. "That has probably been the biggest learning: that in case you let that fester, you're giving off a click resources lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she has another bank account for each property. At tax time, she downloads the transactions and also 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 firm. She has created another type of passive income via her business, but is scathing of the idea that individuals can quickly tap into an online passive income stream.

To really make it is not simple," she states. "When you set a product online, you've got to have a very clear way of how you'll drive visitors to it. "Her own passive income stream comes out of a fully validated psychometric tool that measures integrity and leadership, 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 minimal price. "I have spent $500,000 to get it to where it is," she's says.This year, she's been transforming her novel, The Power of Focus, a goal-setting guide that has sold 15,000 copies, into an online application.

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

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 a year. He mulled boosting 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 named Leadership in Energy and Environmental Design (LEED), he decided to go for that, as no one in his department had it.