One effective way is to invest in dividend-paying assets. Stock, fund, or real estate investments can generate regular returns, providing a steady stream of passive income. Reinvesting those returns over time can compound growth, turning a modest portfolio into a substantial income stream.

Another popular approach is to monetize a hobby or skill. From selling crafts online to providing consulting services, turning a passion into profit can be both fulfilling and highly rewarding. Platforms designed specifically for creators make it easier than ever to reach a global audience with no upfront costs.

For those with extra space or property, rental income is also a solid option. Whether it’s a spare room, a vacation home, or storage space, renting out an unused asset can bring a steady monthly income. Automated tools simplify management and reduce the need for hands-on work.

Peer-to-peer lending or crowdfunded investing is also gaining traction. By funding small projects or loans, retirees can earn higher interest rates than they would with a traditional savings account. Diversification can reduce risk while maximizing returns.

Finally, digital products such as e-books, courses, or photography can generate income long after they are created. Once released, these assets require little maintenance and continue to create value and income for a global audience.

In summary, with the right strategy, doubling your retirement income is achievable. By combining passive investing, skill monetization, and asset utilization, retirees can enjoy a comfortable lifestyle without sacrificing time or freedom. The key is to choose an approach that aligns with personal interests and financial goals.