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On his website, he hoses down expectations that passive income is easy money, stating:"Earning any type of income online takes a lot of hard work, a lot of patience and a little bit of luck, too. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something which we're going to need 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 a few folks, the word"passive income" has become synonymous with an income that you can make without any effort.Deanne Carter, national sales manager of JDL Strategies, has been to countless financial seminars and coached hundreds of men and women in investment and wealth strategies.

However, what they don't tell people is that in order to perform that you actually 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's a lot of work they've done in the background to get them to this position. "Carter thinks it is an attempt most individuals are not prepared to put in.She claims that hankering for a"magic bullet" often arises when people believe they ought to be farther ahead financially.The danger is that they can set their trust in get-rich-quick schemes, or kid themselves that passive income streams are"set and forget" and don't need any effort to maintain.Lacey Filipich, 33, knows what it is like to live that the passive income dream.

In 2001, at the age of 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 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 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 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 stocks in future to secure income streams from dividends.While it has become easier as she's accelerated along the learning curve, she acknowledges there's work involved. "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's 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's probably been the biggest learning: that if you let that fester, you're giving away a great deal of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she's a separate bank account for each property. At that time, she downloads the transactions and also a spreadsheet totals everything. "I simply go through and check 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 people can easily tap into an online passive income flow.

To really make it's not simple," she says. "When you put a product online, you've got 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 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 arrived at a low cost. "I have literally spent $500,000 to get it to where it is," she's says.This year, she's been transforming her novel, The Power of Focus, a goal-setting guide that has sold 15,000 copies, into an online application.

What forced me to do it was that I offered from books," she says. But, she adds, it is a project that has taken the entire year.She likely sums up the successful path to passive income best 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 a year. He whined boosting his earning ability by getting an architecture license, however, the process would likely take six to eight years. When he heard about getting a credential in sustainable design and environmentally friendly my blog building named Leadership in Energy and Environmental Design (LEED), he decided to go for this, as no one in his department needed it.