Many retirees worry about having enough income to live comfortably -- or even cover their basic expenses. And it's easy to see why.

Recent data from Northwestern Mutual finds that the typical baby boomer has just $120,300 in retirement savings. That's not a huge sum of money over what could end up being a 20-year period or more. And while many retirees are able to fall back on Social Security, talks of benefit cuts in the future have many people worried.

That's why it's so important to set yourself up with some backup income streams. Now you could opt to work part-time as a retiree to drum up more money, but that clearly requires some effort on your part. These investments, however, could set you up with passive retirement income so you don't have to lift a finger if you don't want to.

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Source Fool.com