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On his blog, he hoses 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, also. "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 focus on a business model that allows us to generate income in a more traditional sense. "The'myth' of passive incomeTo some people, the word"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 plans.

However, what they don't tell folks is that in order to perform that you truly need to do some work." "The whole thought of a four-hour work week that sounds marvellous. The people who have that kind of lifestyle there is 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 people feel they ought to be further ahead financially.The danger is that they can set their hope 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 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 two years while she finished her university studies and allowed 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 quite good start early in life has made a major difference to me in terms of being able to generate more passive income from 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's become easier as she has accelerated along the learning curve, she acknowledges there's work involved. Continued "You do have to become something of an expert about property in your area and what costs are doing," she says.

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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 care of the property. "That's probably been the greatest learning: that if you allow that fester, you're giving off a lot of your earnings. "Filipich has found methods 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 leader of Integrity and Values, a leadership coaching company. She has successfully created another type of passive income via her business, but is scathing of the idea that individuals can easily tap into an online passive income flow.

To actually create it's not simple," she states. "When you set a product online, you've got to get a very clear method of how you will drive visitors to it. "Her own passive income stream comes from a completely validated psychometric tool that measures integrity and leadership, which she put online in 2000.

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The online tool evolved out of a tried and tested paper version.Nor did it come at a minimal price. "I have literally spent $500,000 to get it to where it is," she says.This year, she has been transforming her book, 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 sold out of books," she says. But, she adds, it's a job that's taken the entire year.She likely sums up the effective path to passive income best when she says:"It's 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 a year. He mulled boosting his earning ability by getting an architecture license, however, 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.

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