How? You make it sound straightforward, but I wouldn't know where to begin.
Let’s say I have $1M liquid (I don’t) and I want to “build passive income”. What do I do? Specifically, what are the actual steps? As in, I pick up the phone and do what? Should I buy a laundromat? Great! HOW do I do this? Where is eBay For Laundromats? Once you but it you’ll need to hire someone to run it. How?
Buy a bunch of duplexes and be a landlord? OK... where is the step-by-step guide?
The answer of course is that it is not straightforward. It is complex and requires experience and not-widely-known niche know-how, and that’s why not everyone just does it.
I would say the scenario with the lowest amount of luck is not really outlined here, which is: get a good job with a high probability of stability. Work hard at it, spend less than you earn and put it in a diversified portfolio of investments and then don’t think about it once it’s in there.
I’m a super biased reader though. I get very anxious when it comes to money so when the going was good for me, I used all the extra earnings to secure a moderate income outside my job.