Passive Income Ideas for Retirement: 6 Ways to Generate $100 a Week This Summer

Headline: Retirees Can Supplement Income with Passive Income Sources

Retirement should be a time of relaxation and enjoyment, free from financial worries. However, many retirees are finding ways to supplement their income with passive income sources to enhance their financial stability. According to a recent report from the Federal Reserve, Social Security remains the most common source of retirement income, but 79% of retirees have additional private income sources.

To join the ranks of retirees with multiple income streams, there are various ways to generate passive income. Here are six ways to earn at least $100 a week this summer, as suggested by USA Today:

1. Create an online course: Share your expertise by creating an online course on platforms like Coursera or Udemy. This can generate passive income from the sale of your course.

2. Utilize high-yield savings accounts: Keep your savings in high-yield accounts to earn a higher APY on your money.

3. Invest in dividend stocks: Own shares in companies that pay monthly or quarterly dividends to receive a consistent income.

4. Invest in bonds: Lock up your money for a predetermined period to earn interest payments.

5. Invest in REITs: Real estate investment trusts pay out earnings to shareholders, providing consistent dividend payments.

6. Rent out your real estate: Utilize platforms like Airbnb to rent out your space and earn passive income.

By diversifying income sources and incorporating passive income strategies, retirees can enhance their financial security and enjoy a more comfortable retirement.