Once you retire, you’re likely going to be living on a fixed income. Generally, this amounts to some combination of Social Security payments, pension payouts, retirement account withdrawals and/or investments. You won’t be able to rely on earning a salary that would increase every year, nor any year-end bonuses that you might have been used to.
See: 7 Frugal Habits That Rarely Pay Off for Boomers in Retirement
Learn: 3 Ways To Recession-Proof Your Retirement
As such, you may have to seek out various forms of passive income in order to keep up with the rate of inflation and ensure that you don’t outlive your nest egg. While some types of passive income are well-known, many other, less-common options can still provide you with the extra income that you need.
To show you the vast array of choices that are available, here’s a list of 73 ways to generate passive income for your retirement years.
- Rental Property
- Airbnb Rentals
- Treasury Bonds
- Corporate Bonds
- High-Yield Bonds
- Commercial Paper
- Income-Paying Mutual Funds
- Income-Paying ETFs
- Dividend-Paying Stocks
- Preferred Stocks
- Covered Calls
- Passive E-Book Revenue
- Amazon Affiliate Income
- YouTube Advertiser Income
- Vending Machines
- Music Royalties
- Publishing Royalties
- Storage Units
- Laundromats
- Cash-Back Apps
- Shopping Portals
- Advertising on Car
- Endorsements
- Sponsorships
- Owning Timberland
- Garage Sales
- Getting a Roommate
- Renting Out Backyard Space
- Renting Out Your Car
- Renting Out Your Clothes
- Creating an App
- Peer-to-Peer Lending
- Microloans
- Commercial Real Estate
- House Flipping
- Focus Groups
- Filling Out Online Surveys
- Hand Modeling
- Voice-Over Acting
- Licensing Photos
- Licensing Ideas/Concepts/Presentations
- Online Tutoring
- Online Webinars/Courses
- Travel Itinerary Development
- Crowdfunding
- Selling Subscription Product
- Flipping Products
- Real Estate Investment Trusts
- Renting Out Parking Space
- Writing Sponsored Posts on Social Media
- Freelance Writing
- Annuity
- Investing in a Local Business
- Social Security
- Pension
- Pet Sitting
- House Sitting
- Renting Your Tools
- Renting Your Bike
- Dropshipping
- Creating Digital Products Like NFTs
- Renting Out Driveway
- Renting Out Storage Space in Your Garage or Basement
- Paying off Debt (will reduce interest, like getting income)
- Getting Cash-Back Credit Card
- Running an Online Membership Community
- Donating Plasma
- High-Yield Savings Account
- Redeeming Credit Card Points
- Getting a Reverse Mortgage
- Refinancing Your Mortgage
- Signing Up for Bank Account Bonuses
- Signing Up for Credit Card Rewards
Check Out: 10 Places To Retire That Are Just Like Arizona but Way Cheaper
Please note that a few of the options listed above aren’t 100% passive and will require some level of effort or investment on your part, especially to start out. Others may not be replicable from year to year, but can provide you with temporary boosts to your retirement income.
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This article originally appeared on GOBankingRates.com: 73 Passive Income Streams for Your Retirement Years
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