Tips for retirement or semi-retirement income

During a tough economy and when both bonds and equities are depressed it takes some creative ideas for generating income. No one that is in retirement wants to pull money out of an asset class that is depressed. A rule I live by for retirement assets is have three buckets.

1) Money market - 1 year of cash reserves
2) Bonds - 5 to 7 years of cash invested in bonds
3) Equities - everything else

Based on this bucket allocation you then draw from a certain asset class during different markets. Here are the three possible scenarios for which asset class you should draw.

Market scenarios and withdrawls:
1) Equities are up, bonds are down - take disbursements from equities and use any excess replenish bonds or MM fund.
2) Equities are up, bonds are up - take disbursements from equities and use any excess to replenish MM fund.
3) Equities are down, bonds are down - take disbursements from your MM fund.

Based on this bucket asset allocation you'll theoretically be able to weather a six to eight year bear market in equities. However, if you are looking for some additional income sources in retirement or want to supplement your semi-retirement here are a few ideas.

Retirement income:
* Start investing in county tax liens - tax liens not only help you diversify your asset allocation but also earn 12 - 24% interest (I'll write in the near future about getting started in investing in tax liens).
* Start a blog - do you have a skill that you feel could make you money based on the knowledge you have about a particular subject matter?
* Start a home based gardening program and sell fresh organic produce to the locals - if you have a fairly big backyard utilize it and make money with things people want. Then advertise your produce on craigslist and people will be begging your for more!
* Start a lawn mowing service in your neighborhood - in your neighborhood it should be easy over the summer to pick up two to three lawn mowing gigs that could pay 20-40 per lawn per week. This could easily supplement your income with $200+/month.
* Start a business short term staffing service - this way you can offer up a short term service that might be needed a small companies in your area. The income seen from this could be extremely varying from 0 to $1000+ per month

These are just a few ideas that retirees or soon to be retirees can tap instead of their depressed assets. What ideas do you have for generating other streams of income?