All in iDeCo or split with NISA?

[nickr]

I'm so frustrated. I was just on the phone to Rakuten, who told me that their system automatically shrinks your name to the first X characters. They have no plans to change this, and no explanation for it, either. The only way around it is to apply for iDeCo by mail, which apparently allows you to use your actual name.

I'm so annoyed because I've already got Rakuten Shoken, Rakuten Bank, Rakuten Card and Rakuten Pay. I don't want to use a different service, but this kind of thing drives me crazy.

[Kanto]

I'm so frustrated. I was just on the phone to Rakuten, who told me that their system automatically shrinks your name to the first X characters. They have no plans to change this, and no explanation for it, either. The only way around it is to apply for iDeCo by mail, which apparently allows you to use your actual name.

I'm so annoyed because I've already got Rakuten Shoken, Rakuten Bank, Rakuten Card and Rakuten Pay. I don't want to use a different service, but this kind of thing drives me crazy.

I think the vast majority of foreigners have to use paper applications for security accounts at most companies. The poor men and ladies on the other end of the phone (or computer) have 0 ideas about the backend systems as well.

I applied for Rakuten. Monex expressly says foreigners need to apply via mail. However, the paper application for monex was dead easy.

[nickr]

Well, I'm looking at the online form to apply for the mail application now. It still puts in my butchered name, and when I select the bank I want to use, it shows my butchered name for that, too. So even if I go through this process, I feel like I'm not going be able to change my name.

[Kanto]

Well, I'm looking at the online form to apply for the mail application now. It still puts in my butchered name, and when I select the bank I want to use, it shows my butchered name for that, too. So even if I go through this process, I feel like I'm not going be able to change my name.

I cannot remember how it was for Rakuten, but with Monex you still had to write your name by hand in two places on the form, and include a copy of your id, that was basically it. My initial application was rejected and they asked me to merge my first and middle name.

[Roger Van Zant]

There's a nice little simulator here where you can plug in your numbers to calculate the tax savings and see how much you're likely to end up with.

Very useful link! Thanks for sharing.

[JapaneseMike]

I'm so annoyed because I've already got Rakuten Shoken, Rakuten Bank, Rakuten Card and Rakuten Pay. I don't want to use a different service, but this kind of thing drives me crazy.

In fairness, as others have mentioned the iDeCo is actually administered by the JIS&T so using Rakuten, Monex, your bank, etc. doesn't make a lot of difference except in terms of what products are available.

I had to do paper forms with monex, but once it was done, it was done, and they have emaxis all world, so now every month it's fire & forget. The fact that you'll be able to open a 68,000/month (max allowance) iDeCo means you'll get the most benefit from better value funds.

Actually I see so many folks about the rakuten ecosystem, and hassles about changing names, etc. I've managed to almost completely avoid the ecosystem so I'm sure to be missing the point (or specifically the points )

[adamu]

Actually I see so many folks about the rakuten ecosystem, and hassles about changing names, etc. I've managed to almost completely avoid the ecosystem so I'm sure to be missing the point (or specifically the points )

I still suspect if you take the combined effort of managing accounts + total time taken to optimize points, and instead put that effort into earning some money that you then invest wisely, Rakuten points are probably a loss rather than a benefit. That's just a gut feeling though.

[Established]

Actually I see so many folks about the rakuten ecosystem, and hassles about changing names, etc. I've managed to almost completely avoid the ecosystem so I'm sure to be missing the point (or specifically the points )

I still suspect if you take the combined effort of managing accounts + total time taken to optimize points, and instead put that effort into earning some money that you then invest wisely, Rakuten points are probably a loss rather than a benefit. That's just a gut feeling though.

Depends. Once set-up, the Tsumitate + Credit card sweep is set and forget. It can net you 6000 points yearly, which can be invested.

Reinvesting those points in an index fund could net you around 40万 (@5%) over 30years.

All for free. Nothing to sneeze at.

An effective "1% off" index fund purchase is currently the best deal available in Japan.

.....

[beanhead]

(Though the bank's offerings aren`t the best. My wife has Tawara No Load funds, which are "decent", but not as good as Emaxis Slim or Rakuten Vanguard).

I just read this again. Can you elaborate? Rakuten has both Tawara No Load and Vanguard for iDeCo. The Tawara looks decent on paper. Low fees. I just wondered why you think the Vanguard fund is a better option.