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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 solutions business, PixelRush. "We decided it's something which we're going to have to put as a long-term target 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 term"passive income" has 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 folks 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 have that kind of lifestyle there is a lot of work that they've done in the background to get them to that position. "Carter thinks it is an effort most people are not ready to put in.She says that hankering for a"magic bullet" often arises when folks believe that they should be farther forward financially.The danger is they can put their trust in get-rich-quick approaches, or kid themselves that passive income streams 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 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 two years while she finished her university studies and leased the second bedroom to 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 into other property 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 shares in future to secure income flows from dividends.While it's 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 states.

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You 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 care of their property. "That has probably been the biggest learning: that in case you let that fester, you're giving off a lot of your earnings. "Filipich has found methods to reduce tax-time demands.

Now, she has a separate bank account for every property. At that time, she downloads the transactions and also a spreadsheet totals everything. "I just 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 via her business, but is scathing of the idea that people can quickly tap into an online passive income flow.

To actually make it's not simple," she says. "When you put a product online, you've got to get an extremely click here for info 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 out of 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 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 compelled me to do it was I sold out of books," she says. But, she adds, it's a project that's taken the entire year.She likely sums up the effective route to passive income when she says:"It's about monetising that which you do nicely already. "Loading.

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In February 2007, Pat Flynn was working at an architecture firm making $38,000 annually. He mulled boosting his earning ability by getting an architecture license, but the procedure would likely take six to eight years. When he heard about getting a credential in sustainable design and environmentally friendly building named 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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