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On his website, he rolls down expectations that passive income is easy money, stating:"Earning any type of income online takes a great deal of hard work, a great deal 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 goal and focus on a business model which enables us to generate income in a more traditional sense. "The'myth' of passive incomeTo some folks, the word"passive income" has almost become synonymous with an income which you can earn without any effort.Deanne Carter, national sales manager of JDL Plans, has been to countless financial seminars and coached hundreds of people in investment and wealth strategies.

But what they don't tell folks is that in order to do 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 they've done in the background to get them to this 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 folks feel they should be farther forward financially.The danger is that they can set their trust in get-rich-quick approaches, or kid themselves that passive income flows are"set and forget" and don't require 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 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 allowed the second bedroom to another student. "At university, people thought I was crazy, 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 into other land investments. "Having had that website here one quite great start 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 latest 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 streams from dividends.While it has become easier as she's accelerated along the learning curve, she acknowledges there is work involved. "You do have to become something of an expert about real estate in your town and what prices are doing," she states.

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You do need to dedicate 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 the house. "That's probably been the greatest learning: that if you let that fester, you're giving away a lot of your earnings. "Filipich has found ways to cut back tax-time demands.

Now, she's another 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 via her business, but is scathing of the notion that people can quickly tap into an online passive income flow.

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

What compelled me to do it was that I sold from books," she says. However, she adds, it is a project that has taken the entire year.She likely sums up the effective route to passive income best 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, however, the procedure would probably 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.