Chances are, your retirement plan didn't account for this year's 8% to 9% inflation rates. If you've already streamlined your budget to the extreme, increasing your income is the next available remedy to manage those higher prices on food and healthcare.

Working is one way to raise your income, but it's not the only way. Below are five ways to generate income in retirement, none of which require you to punch a time clock.

Dividend stocks pay you to own them. The payments generally come quarterly, and you can earn annual yields of 1.5% to 3%.

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Source Fool.com