Aside from stocks, investment funds, like mutual funds and exchange-traded funds, can pay dividends and distribution income, providing another source of passive cash flow for retirees — as long as retirees calibrate the risk levels to their post-work lifestyle. Real estate is a classic passive income generator, and Scott Lieberman, founder of Touchdown Money, noted the rent potential of unused property for retirees. From stocks and real estate to money lending and creative works, retirees have a wide range of paths for establishing multiple streams of income that can keep paying out long after the initial work is done.