I used to do this but I moved to a country where it no longer makes sense for tax reasons (dividends are taxed a lot which compounds a shit ton over years) so just getting a few ETFs and banking on long term market growth seems like the way here.For stocks, one way my old man does it is dividend stocks. Basically you get paid a certain percentage each year like interest, so if you are a boomer with like couple mil worth of stocks or more you can basically live off of it from the free money each year.
Downside of course is if the stock market goes to shit so does your retirement so don't put all of your money into one place lol.
Although I think in a few decades I will mostly be moving to bonds/real estate.