Core Insights - Retirement can be costly, prompting the need for short-term passive income strategies to meet financial goals [1] - There are various passive income streams available for retirees to generate extra cash [2] Passive Income Ideas - Opening a high-yield savings account is a straightforward method to earn passive income with minimal effort, allowing for interest earnings [3] - Research is essential as different banks offer varying account features, including minimums and fees [4] - Renting out tools can provide additional income without the need for real estate investments, utilizing platforms like Rent My Equipment [5][6] - Renting out personal vehicles on platforms such as Turo or Getaround can also generate significant passive income, with the average annual income from one car being $10,868 [7][8]