Okane No Gakkou: Use SBI

[adamu]

There's a nice blog recently analysing the iDeCo options, where they conclude SBI is the best choice.

https://okanenogakkou.net/6675

Their reasoning is that when you compare the different companies, only two have both the lowest account fee and lowest cost funds:

Monex and SBI.

But they say that SBI in general has more choice, so thinking long-term, SBI is probably the safer choice considering the fund line-up is likely to change over the course of an iDeCo.

Here's a nice graphic from the blog doing the comparison.



RetireJapan supplement

We like the eMaxis Slim All Country Fund, which is only available in Monex, not SBI. SBI instead push their own equivalent fund, but it is an inferior design to eMaxis Slim's fund. So it could be worth picking Monex just for that fund and the simplicity.

[RetireJapan]

I believe SBI has a more generous affiliate program too, which I'm sure has nothing to do with the conclusion

[abeltoy]

I am using Matsui, which has the same account fee as SBI and the same cost fund for the fund I'm interested in, which is eMaxis Slim All Country. Given I don't really have any plans to change funds in the future (unless a better fund comes out or the current fund gets worse), I don't really see the benefits of SBI over Matsui and chose based on how easier the application process looked and how user-friendly the interface seems to be. We'll see how it goes I guess, but as long as fees are the same for the fund you want I don't think it particularly matters.

[adamu]

Oh that's cool. You're the first person I've seen using Matsui.

Their reason was that SBI is likely to have more options in the future. But as you said, if you're just sticking with all country, it should be fine. And it's always nice to have variety in broker choice.