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On his blog, he hoses down expectations that passive income is easy money, stating:"Earning any sort of income online requires 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 is something that we are going to have to put as a long-term target and focus on a business model which 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 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 people in investment and wealth plans.

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

In 2001, at age 19, instead of buying a car, she used her savings to buy a two-bedroom unit in the Brisbane suburb of Taringa. She lived there for two years while she completed her university studies and leased the second bedroom into another student. "At university, folks 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 land investments. "Having had that one really great 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 also plans to direct money into stocks in future to secure income streams from dividends.While it has become easier as she has 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 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 good care of the property. "That has probably been the biggest learning: that if you let that fester, you're giving away a lot of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she's a separate bank account for each 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 created another kind of passive income via her business, but is scathing of the idea that individuals can quickly tap into an online passive income flow.

To really create it is not easy," she says. "When you set a product online, you have to have a very clear way of how you'll drive visitors to it. "Her own passive income stream comes from a fully validated psychometric tool which 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 come at a low cost. "I've 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 manual that has already sold 15,000 copies, into an online application.

What forced me to do it was I offered from books," she says. However, she adds, it's a project that has taken the entire year.She probably sums up the effective route to passive income when she says:"It's about monetising that which 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 whined boosting his earning ability by getting an architecture license, but the process would probably take six to her response eight decades. When he heard about getting a credential in sustainable design and environmentally friendly building called Leadership in Energy and Environmental Design (LEED), he chose to really go for this, as no one in his department had it.