Personal Finance
Minimum Income or Enhanced Workfare Payout???
By Create Wealth Through Long-Term Investing and Short-Term Trading  •  July 3, 2020
Read? $3,000 cash payout for Workfare recipients Lower-wage workers, including self-employed ones, will get a $3,000 cash payout under the Workfare Income Supplement scheme, Deputy Prime Minister Heng Swee Keat said yesterday. This is an enhancement of the one-off special cash payment amounting to 20 per cent of their payout last year, with a minimum payout of $100, which he announced during his Budget speech last month. Workfare is targeted at Singaporean workers whose earnings are in the bottom 20 per cent with some support for those slightly above, through Central Provident Fund top-ups and cash payouts. To qualify for the scheme, citizens must be 35 and older and earn a gross monthly income of not more than $2,300, among other criteria. ------------------------------ How much to pay as minimum income when all pay masters are looking to minimize labour costs to improve margin? We must always remember that cotton comes from sheep....
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By Create Wealth Through Long-Term Investing and Short-Term Trading
I am 62 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016. Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 3nd year Uni in SUTD. I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild. I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038. Cheers!
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