Hi everybody,
I have been reading many posts here and understood a lot (I think), but I also got confused myself (maybe even more).
I have a tsumitate Nisa at local Kyushu bank for about 2 years. I opened it without understanding much about it
as a way to befriend the banker. I run it on full autopilot from the bank. Actually
I thought that I cannot change anything in what is bought or not (after reading some posts here that might not be
true). However seeing how nicely the money accumulate the interest I would like to open another account for my wife.
Now I see lots of people here talk about Rakuten or other institutions you can get an account from.
My question is, does it matter which institution to use for TNisa? And if it does, which is the
best?
Thank you
Best Tsumitate Nisa "provider"
Re: Best Tsumitate Nisa "provider"
It matters in the sense that different providers have different products available (is the mutual fund you want available in your Kyushu bank?). In addition to the management fee of the fund and whether its available or not, there's also if your provider has any hidden charges (do they charge a fee for buying the fund? selling the fund? holding costs?)
The reason Rakuten/SBI/Monex are recommended alot here is because we know them and they're low cost providers and they have a large selection of funds. If your local bank has the same conditions then there's no reason to move away from them if all you're doing is just topping up the tsumitate NISA every month.
The reason Rakuten/SBI/Monex are recommended alot here is because we know them and they're low cost providers and they have a large selection of funds. If your local bank has the same conditions then there's no reason to move away from them if all you're doing is just topping up the tsumitate NISA every month.
Re: Best Tsumitate Nisa "provider"
The real answer:
Spend time learning about investing and asset allocations, decide what investments you want, and then find a provider that provides you that at a cost you're happy with.
The lazy answer:
Find a provider that provides one of these global index funds with annual charges of less than 0.3% (preferably around 0.1%), without charging you any extra:
https://retirewiki.jp/wiki/Japanese_global_index_funds
The above funds do not generally seem to be available at local banks, because there's less money in it for the bank.
Spend time learning about investing and asset allocations, decide what investments you want, and then find a provider that provides you that at a cost you're happy with.
The lazy answer:
Find a provider that provides one of these global index funds with annual charges of less than 0.3% (preferably around 0.1%), without charging you any extra:
https://retirewiki.jp/wiki/Japanese_global_index_funds
The above funds do not generally seem to be available at local banks, because there's less money in it for the bank.