You Got Your Assurance Package Payout, Now What?
The Singapore government will disburse an additional Assurance Package (AP) Cash Payment of up to $200 in December 2023. This means eligible Singaporeans (see Table below) will receive up to $800 in December 2023. Additionally, there will also be an increase of $200 CDC vouchers in January 2024, making a total of $500 CDC vouchers in January 2024.
Now what?
For many Singaporeans, the AP payout is a windfall. Many forget that it is meant to offset the higher cost of living caused by the conflicts in Europe and the Middle East. Thus, instead of using the money to pay for daily expenses in 2024, they will instead use the money to buy a new mobile phone or take a short holiday trip to Bangkok or Ho Chih Minh. Once the money is spent, Singaporeans will continue to complain about the high cost of living and how bad the government is.
Invest It
I have another suggestion. Invest it! If you don’t need the money to pay bills, invest it in monthly dividend-paying stocks and reap the rewards for life.
