If you're sitting on a healthy amount of savings — say, $100,000 — and you're not quite sure what to do with it, you're not alone. For many Australians, cash in the bank can feel safe, comfortable, and convenient.

But what if that $100,000 could do more than just sit there?

With interest rates on the way down and term deposit returns expected to soften, now could be the time to put your savings to work by building a passive-income portfolio with ASX shares.

Sure, there's more risk in the share market than a government-guaranteed bank account. But the potential rewards — especially over the long term — can be significantly greater.

Here's a simple two-stock strategy that could help turn idle savings into a growing stream of income.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

Allocation: $90,000

If you're looking for a reliable foundation for an income-focused portfolio, the Vanguard Australian Shares High Yield ETF is an excellent place to start. This ASX ETF gives you exposure to high-dividend-paying Australian shares, including many household names in sectors like banking, resources, healthcare, and consumer staples.

It's broadly diversified, low-cost, and currently offers a 12-month trailing dividend yield of 5% — which means your $90,000 allocation could generate around $4,500 in annual passive income, even before factoring in franking credits or potential dividend growth.

This is a set-and-forget option ideal for investors who want income, diversification, and a stress-free way to invest in the Australian market.

GQG Partners Inc. (ASX: GQG)

Allocation: $10,000

If you're comfortable adding a little more risk for potentially higher returns, GQG Partners could be the second piece of the puzzle.

This global fund manager is currently rated as a buy by Goldman Sachs, which sees upside in both earnings and dividends. The broker has a $3.20 price target on GQG shares — well above the current price of $2.13 — and is forecasting generous fully franked dividend payments in the coming years.

It has pencilled in dividends of 15 US cents in FY 2025, 17 US cents in FY 2026, and 19 US cents in FY 2027. At today's exchange rate, that equates to roughly 24 Australian cents per share in FY 2025, or an eye-catching dividend yield of over 11% on current prices. That means your $10,000 allocation could generate more than $1,100 in annual passive income, assuming those forecasts are met.

Keep in mind, this is a higher-risk, higher-reward play. But GQG Partners' growing funds under management, strong profit margins, and shareholder-friendly dividend policy make it a compelling addition to an income-focused portfolio.

Foolish takeaway

Investing $100,000 into a blend of Vanguard Australian Shares High Yield ETF and GQG Partners gives you the best of both worlds — broad, steady passive income from some of Australia's most dependable companies, along with a higher-yielding global play with strong growth potential.

Yes, the share market carries risk. Prices can move, dividends can fluctuate, and patience is required. But for those willing to take a long-term view, the rewards — both in income and capital growth — can far outpace what you'll get from leaving your cash sitting idle.

In short: don't let your savings snooze — put them to work and let your wealth grow, one dividend at a time.