Simple Q&A - NISA

[John_conner]

Hi

I’m currently enrolled in the 20 years NISA, and from next month any monthly money left over with go into more funds. My goal is 80,000 to 100,000 a month.


My partner whys to start investing and is confused at wether she should start ideco or NISA first?

Many thanks

[RetireJapan]

My partner whys to start investing and is confused at wether she should start ideco or NISA first?
Many thanks

You can open both with the same application form.

First question is: is your partner eligible to open an iDeCo account (depends on nenkin type). If so, how much tax will they save (depends on marginal income tax band)?

In an ideal world everyone would max out both iDeCo and NISA for their entire working career. It would give them a nice base for retirement.

In practice anything that you can start doing is good.

So both would be good, either would also be good. What you do is less important than getting started.

[bryanc]

sorry if this is a very stupid question..

my ideco is set up but have not heard if my nisa is or not-it has been quite a long time..
how will i know-what info do they send to you when it is open?

[zeroshiki]

sorry if this is a very stupid question..

my ideco is set up but have not heard if my nisa is or not-it has been quite a long time..
how will i know-what info do they send to you when it is open?

Depends on the service. On Rakuten you can go to their NISA page and it tells you the status of your application.

[bryanc]

thanks-seems it is set up now..even more newbie question// do i just put themoney into the monex acct and then direct it from my account to the nisa?

[RetireJapan]

thanks-seems it is set up now..even more newbie question// do i just put themoney into the monex acct and then direct it from my account to the nisa?

You need to just buy things (ordinary NISA) or set up regular purchases (ordinary NISA or tsumitate NISA) and assign them to your NISA account on the purchase page.

[bryanc]

i see.thanks and sorry for the silly question ..and to do that i need to put money into the monex acct first!

[zeroshiki]

i see.thanks and sorry for the silly question ..and to do that i need to put money into the monex acct first!

Yeah, Monex has an account you put money into and they pull from that when you tell them to purchase securities in your name.

[pfdsa]

Quick question regarding Rakuten securities.
My first tsumitate NISA order finally went through after a long wait and several name related problems

Last month I set my tsumitate for the 24th of every month, so today I went to check my rakuten securities account and the money is already in there, but the tsumitate NISA amount its still at 0. Do I need to do anything else after the money enters the rakuten platform, or just have to wait until the system is updated?

[Moggy_the_cat]

Hello again!

I'd like to express my appreciation for this website and this forum specifically. It has been a godsend! The users have all been very helpful as well.

I have another question for you people and it involves problems with my name. I have a NISA account with Monex (my iDECO is still being processed, but I think it will fail, vide below).

My Monex account name is [Surname] [Given nameMiddle name]. My bank account name is [Surname] [Middle name] [Given name] (on the card is in カタカナ). That obviously creates a problem: I'm not able to transfer funds.

According to TokyoWart:
"Because of this name problem I cannot do online transfers from my bank to Monex but there are two workarounds:

1. When I do a "furikomi" using an atm at my bank to my Monex account I have to change the katakana spelling of my name in the ご依頼人 field so that it is identical to what is recorded at Monex. When I do that the transfer goes through without trouble.

2. Another workaround is to get a Monex Saison Visa credit/cash card and use it to deposit cash directly into your Monex account."

I guess I could do #1 every month and so far sounds like the most practical option. #2 Is no longer available because they will discontinue the service this November 30th.

Now I could try to change my name order at my bank, but from what I understand, MUFJ only changes the surname https://www.bk.mufg.jp/tsukau/tetsuduki/name/index.html via its app. I'm not sure about in person at the branch https://www.tr.mufg.jp/ippan/tetsuzuki/ ... _qa07.html
If successful, that would create a lot of headaches (utilities, credit card, etc.)
Or I could just create a new account at another bank with the correct order matching Monex and transfer money to that new account from MUFJ every month.

So, is it possible to change banks associated with my NISA account? In the FAQ, there is no information about that, only about changing securities institutions (e.g. Monex > SBI). Would I have to close my NISA and start from scratch?

Any insight you people can provide will be greatly appreciated!