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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 great deal of patience and a bit of luck, also. "In the end, Trzeciak set up an online marketing services business, PixelRush. "We decided it's something that we're going to need to put as a long-term target and concentrate 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 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 men and women in investment and wealth plans.

However, what they don't tell folks is that in order to do that you truly need to do some work" "The whole 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 is an effort most individuals are not prepared to place in.She says that hankering for a"magic bullet" often arises when folks believe they should be farther forward financially.The danger is they can set their hope in get-rich-quick schemes, or kid themselves that passive income streams are"set and forget" and don't need any attempt to maintain.Lacey Filipich, 33, knows exactly 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 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 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 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 flows from dividends.While it has become easier as she has 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 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 the house. "That's probably been the greatest learning: that in case you allow that fester, you're giving away a great deal of your earnings. "Filipich has found methods to cut back tax-time demands.

Now, she has another bank account for each property. At tax time, she downloads the transactions and 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 notion that individuals can quickly tap into an online passive income flow.

To actually make it is not easy," she says. "When you set a product online, you've got to have a very clear method of how you'll drive visitors to it. "Her own passive income stream comes out of a fully validated psychometric tool that measures integrity and direction, 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 price. "I've 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 is a job that's taken the entire year.She likely sums up the successful check my reference route 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 at an architecture firm making $38,000 annually. He whined boosting his earning power by getting an architecture license, but the procedure would probably 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 chose to go for this, as no one in his department needed it.