Core Insights - Many seniors fear outliving their savings in retirement, leading to a desire for passive income sources rather than taking on additional work [1][2] Group 1: Generating Passive Income - Owning rental properties can provide a steady stream of income, enhancing retirement savings and lifestyle [3] - Retirees can utilize extra space in their homes, such as spare bedrooms, to generate income without committing to a full-time job [4][5] - Accessory dwelling units (ADUs) and unused garage spaces can also be monetized for additional revenue with minimal effort [5] Group 2: Social Security Benefits - Social Security serves as a foundational element of retirement funding, with strategic filing times significantly impacting benefits [6] - Delaying Social Security benefits until full retirement age or up to age 70 can result in a higher permanent payout [6] - Spousal benefits can provide additional financial support, allowing nonworking spouses to receive up to 50% of the primary worker's benefits [7]