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1. Buy assets with high liquidity, fair value, and easy cash flow, such as real estate, stocks, bonds, ETFs, funds.
Note that the passive income bought will not have a fantastic rate of return. There are a lot of rich people in the world, and a lot of them are looking for investment opportunities, so the price of good opportunities is also rising.
4% rate of return is equivalent to a double in 18 years. In case you don't have a clue about this number, a 4% return is equivalent to 18 years to turn $1 million into $2 million.
2. Entrepreneurship is to create cash flow, especially passive income, and to make the business itself tradable.
Doing what you are good at and finding experts to solve problems are the basic rules to increase your success rate. Note that most businesses require " you put in your own time"!
You don't have to work for yourself if you only put in the money? But that's rarely the case in reality. The advantage of investing time is that you have more "control" over your assets.
Having control reduces your risk and often creates a return on investment that exceeds the original asset.