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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any type of income online requires a great deal of hard work, a great deal of patience and a little 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 target and concentrate on a business model which allows 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 make 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 strategies.

But what they don't tell people is that in order to perform that you truly need to do some work." "The whole idea of a four-hour work week that 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's an effort most people are not ready to place in.She says that hankering for a"magic bullet" often arises when people believe that they ought to be further ahead financially.The danger is they can set their trust in get-rich-quick schemes, or child themselves that passive income flows are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows what it's like to live 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 two years while she completed her university studies and allowed the second bedroom into another student. "At university, folks thought I was crazy, but it worked out cheaper than renting a space for me," she says.Within four decades, the unit was putting money into her pocket and the equity provided a stepping stone into other land investments. "Having had that one really 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 plans to direct money into shares in future to secure income flows from dividends.While it's 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 town and what costs are doing," she states.

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You do need to dedicate 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 care of their house. "That's probably been the biggest learning: that if you allow that fester, you are giving off a lot of your earnings. "Filipich has found ways to reduce tax-time demands.

Now, she's a separate bank look at here now account for every property. At tax time, she downloads the transactions and 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 idea that individuals can quickly tap into an online passive income flow.

To actually create it is not simple," she says. "When you set a product online, you have to get a very 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 come at a low cost. "I have literally spent $500,000 to get it from this source to where it is," she says.This year, she has been transforming her novel, 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 offered out of books," she says. But, she adds, it's a project that's taken the entire year.She probably sums up the successful path 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 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 chose to really go for that, as no one in his department needed it.

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