Passive income is certainly my goal. Though passive is a slight misnomer, for example having a couple of rental properties is what some people think of as having passive income which is partly true - you don't have to turn up from 9 - 5 at your properties but you do have to keep them up to standard, make sure the rent is being paid etc. If you have investments you have to watch over them and hopefully keep your cash working at the optimum level.
I'm not sure totally passive income exists even if you can employ someone to keep look after your investments its best to keep an eye on the person you're employing too.
But.... being able to watch over your investments from your holiday villa in the Caribbean and knowing that you are earning money while you sleep is a pretty nice position to be in and I would take that kind of work over the 9 - 5 any day!