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On his blog, he rolls down expectations that passive income is easy money, stating:"Earning any type of income online requires a lot 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're going to have to put as a long-term target and concentrate 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 which you can make 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 plans.

However, what they don't tell people is that in order to do that you truly need to do some work." "The entire thought of a four-hour work week which sounds marvellous. The people who have that kind of lifestyle there's a lot of work that they've done in the background to get them to this position. "Carter thinks it's an attempt most people are not prepared to put in.She says that hankering for a"magic bullet" often arises when folks feel they should be farther ahead financially.The danger is that they can put their trust in get-rich-quick approaches, or kid themselves that passive income flows are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly what it is like to live that the passive income fantasy.

In 2001, at the age of 19, instead of buying a vehicle, she used her savings to purchase 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 space for me," she says.Within four years, the unit was putting money into her pocket and the equity provided a stepping stone to other property investments. "Having had that one really good 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 flows from dividends.While it has become easier as she has accelerated along the learning curve, she acknowledges there is work involved. "You do have to become something of an expert about property in your area and you could look here what costs are doing," she states.

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You do need to commit a reasonable bit of time. "She's developed a"short fuse" for underperforming agents when there's a vacancy or when a tenant isn't taking good care of their house. "That's probably been the greatest learning: that if you let that fester, you are giving away a great deal of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she's a separate bank account for every property. At tax time, she downloads the transactions and also a spreadsheet totals everything. "I just go through and assess it. "Jennifer Elliott is the founder and chief executive of Integrity and Values, a leadership coaching firm. She has successfully created another type of passive income through her business, but is scathing of the notion that individuals can easily tap into an online passive income flow.

To actually create it's not easy," she states. "When you put check this a product online, you've got to have an extremely clear way of how you will drive people to it. "Her own passive income stream comes from 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 minimal price. "I have spent $500,000 to get it to where it is," she's says.This year, she has been transforming her novel, The Power of Focus, a goal-setting guide which has sold 15,000 copies, into an online application.

What compelled me to do it was I offered out of books," she says. However, she adds, it is a project that has taken the entire year.She probably sums up the successful route to passive income when she states:"It is 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 annually. He mulled boosting his earning power by getting an architecture license, but the process would probably 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 had it.