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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 lot of hard work, a great deal 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 that 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 some folks, the term"passive income" has almost 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 men and women in investment and wealth strategies.

But what they don't tell folks is that in order to perform 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 have that kind of lifestyle there is a lot of work they've done in the background for them to this position. "Carter thinks it is an attempt most people are not ready to place in.She claims that hankering for a"magic bullet" often arises when folks feel that they should be further forward 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 require any attempt to maintain.Lacey Filipich, 33, knows what it is like to live the passive income fantasy.

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 to another student. "At university, folks thought I was mad, but it worked out cheaper than renting a room for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone to other land investments. "Having had that one quite good start early in life has made a big difference to me in terms of being able to generate more passive income from 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 streams from dividends.While it has become easier as she's accelerated along the learning curve, she acknowledges there's work involved. "You do need to become something of an expert about property in your area and what prices are doing," she states.

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

Now, she's another bank account for each property. At tax time, she downloads the transactions and a spreadsheet totals everything. "I just go through and check 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 notion that individuals can quickly tap into an online passive income stream.

To really make it's not simple," she says. "When you set a product online, you have to get a very clear method of how you will drive people 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 low cost. "I've spent $500,000 to get it to where it's," she's says.This year, she has been transforming her book, The Power of this Focus, a goal-setting guide that has already sold 15,000 copies, into an online application.

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

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In February 2007, Pat Flynn was working in an architecture firm making $38,000 annually. He mulled boosting his earning power by getting an architecture license, but the process 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 decided to go for this, as no one in his department needed it.