Financial options in Japan are getting better and better
I remember when NISA started (back in 2014). I remember when iDeCo became iDeCo (before that it was called 個人型拠出年金 and was restricted to self-employed people). I remember the rise and fall of Junior NISA and tsumitate NISA.
In 2024 the current NISA system started, with its huge potential to secure people’s financial security in retirement.
iDeCo contribution limits are due to be raised soon, and I just read about the proposals for a new Kodomo NISA and a (somewhat substandard seeming) Platinum NISA aimed at older people.
We really are living in a golden age for personal finance in Japan.
But the government is not creating all these schemes out of the goodness of its heart, or because it is progressive and innovative.
In many ways, our financial situation here is getting worse. Inflation is back, incomes are not keeping up with it, mortgage interest rates are going up, the weak yen makes it prohibitive to travel abroad…
We’re getting new options to save for retirement because we need them.
And if you’re not taking advantage of the options you have here in Japan, you may have cause to regret that later.
A storm is coming, and a lot of people are going to get caught in the rain.
Here at RetireJapan we’re busy trying to hand out umbrellas. If you’ve already got yours, tell a friend, colleague, or family member to get theirs too.
They might need it soon.
RetireJapan TV
RetireJapan TV will be back this week on April 22nd from 20:00 (we had to change the day! It will be on Tuesday this month).
We’ll be talking about how to navigate the health system here in Japan. Join us live to ask questions or contribute to the discussion.
YouTube
Thank you for your support of the RetireJapan YouTube channel. New video soon. Maybe.
The Forum
Speaking of which, the Forum is doing well (41,157 posts so far). The forum rules are here. In essence, they are:
- Be nice
- Ask any question you like
- Only answer questions when you have relevant knowledge or experience
Here are the latest active threads:
This week’s books
I am still on my Terry Pratchett binge! Bought all of his Discworld books on Kindle and just finished reading Monstruous Regiment (31/41). Really enjoyed it to the point where I stayed up until 2:26 to finish it.
This week’s links
- Had a bad experience with some taxis in Kitakata this week, but that is not representative of all taxis in Japan: Driving a Taxi Becomes Lucrative in Japan
- It never ends: Journey
- This does my head in. There should be huge fines for converting car TVs to show picture while driving, and they should be levied on the driver, OR the shop that did it: Video Killed the Radio Car
- This blew my mind a bit (YouTube, not finance): Reviewing a Bionic Hand as did this (also YouTube): The Truth about Drone Deliveries
- I love it when the stock market is down: Buying When the Stock Market is Down 15%
- I developed this four years into my Japan life. Gets worse every year: Did I Fall Victim to Japan’s Stealth Productivity Killer?
- I suspect cultural aspects of communication contribute to some of this, but the ‘quality of life will be much better in five years’ result is pretty bleak: Japan ranks lowest in quality of life satisfaction among 30 countries: happiness survey
- Now this would be good news: a new Kodomo NISA under consideration? こどもNISA創設、金融庁が税制改正要望へ 実現には壁
- Big rise in mortgage interest rates in April: RealEstate.jp (Emil Gorgees) video
- I kind of want that first one: Five eye-popping gadgets for the home
- I’m not sure I understand this enough. Sobering: Demis Hassabis Is Preparing for AI’s Endgame
- This would kill me: The best day ever: have scientists found the secret of happiness
What do you think? Anything interesting in there?
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