Is there a secret to passive income?

- October 25, 2010 < 1 MIN READ

There is a whole industry built around selling the idea that you can escape your job, earn a six figure income and retire in a few years – all working part-time from anywhere. Count me in for this passive income!

I’ve done some reading and the promise varies from sales letter to telegraph pole, but some of the common features are:

  • It is VERY simple. If they can do it you can too.
  • They have access to secrets (usually about seven) that others don’t want you to know.
  • You don’t need any experience or special skills.
  • It doesn’t require selling.
  • It will deliver high levels of passive income quickly.
  • It is a ‘turnkey’ system that simply needs to be switched on.
  • It requires working a few hours a day on your home computer.
  • It needs only a small, highly-discounted, upfront investment.
  • There is a strict limit on the number of people they can let in (must be limited space on the e-bookshelf).

It sounds so simple. So how come the only self-made people I know who have achieved freedom, passive income, early retirement and a pot of gold have worked their butts off for it? For passive income, it sure looks like hard work!

Want more articles like this? Check out the working from home section.

Hard work, experience, learning, patience… pfft! Isn’t there a shortcut?

I’m starting to wonder… are you lot all out earning squillions in your sleep without telling me? I suspect you’re off at the beach or in the south of France or whatever, but when you get back, will you let me in on the secret – pretty please?

But seriously, cutting through all the hype and empty promises out there, I’d love to know what your successful strategies have been for effectively creating new income streams.

In the meantime, I’ll do my best not to fall for the next telegraph poll.