I think the characterization of #2 is way off. As others have pointed out, you're talking about mrmoneymustache.com but you're not very accurate. The guy/family essentially has $1 Million (probably more) in assets (paid-off house, rental properties, stock accounts, etc.) and lives off of $25-30K that these assets generates. Given that he doesn't have the worries of paying a rent or mortgage, that he has optimized his location for quality of life, he shows how a basic middle-class life, but with total freedom from work, can be had on that budget. But he's also the first to tell you he actually likes to "work" on his own terms (house renovation, blogging, etc.) and that these things bring him income that is just further accumulating. He actually could draw more to live every year, but doesn't. So in addition to a decent lifestyle, he also has financial security, which I bet a lot of people would want.
I do think there are some aspects of MMM's success that are not generalizable, mostly the carpentry/contracting skills and the rental property income that are a direct result of them. But the idea that on a 100K salary (say 70K after taxes), you live on 30K and save 40K for 10 years gives you a very comfortable nest egg that will compound and generate income for you is very real.
Another part of MMM's message, if I may, is that a non-consumer, active lifestyle (during both the savings phase or the "retirement" phase) is more rewarding personally and more sustainable socially. You say "it's not the life most people want to live," but one argument is that they haven't tried it because they are steeped in the mass-media consumer culture.
Personally, the OP ("a passive income hacker's view on wealth") is a no brainer (of course we all want time, and maybe a meaningful task in life), and I was really surprised he didn't tell us how to obtain that time. Because there's the difficulty, and I agree that most people peddling passive income solutions are your 1 and 3. #2 might not be for everyone, but I see it as an honest, viable alternative to the swindles and luck stories.
I do think there are some aspects of MMM's success that are not generalizable, mostly the carpentry/contracting skills and the rental property income that are a direct result of them. But the idea that on a 100K salary (say 70K after taxes), you live on 30K and save 40K for 10 years gives you a very comfortable nest egg that will compound and generate income for you is very real.
Another part of MMM's message, if I may, is that a non-consumer, active lifestyle (during both the savings phase or the "retirement" phase) is more rewarding personally and more sustainable socially. You say "it's not the life most people want to live," but one argument is that they haven't tried it because they are steeped in the mass-media consumer culture.
Personally, the OP ("a passive income hacker's view on wealth") is a no brainer (of course we all want time, and maybe a meaningful task in life), and I was really surprised he didn't tell us how to obtain that time. Because there's the difficulty, and I agree that most people peddling passive income solutions are your 1 and 3. #2 might not be for everyone, but I see it as an honest, viable alternative to the swindles and luck stories.