Simple Global Market Portfolio with iDeCo?

[RetireJapan]

But as was pointed out, opening a NISA account now has the benefit (and I suspect OP does not know this) of making enrolment into the new NISA automatic, so their efforts would not be spent in vain.

And as goran pointed out, in case they have an unexpected influx of money before the end of the year, wouldn’t it be better to have the option of putting it into their NISA account, while not using their new NISA allotment?

Things to think about. If it were me, I would open a NISA account now: there are no downsides, as far as I can see.

This is my take on it (completely agree): https://youtu.be/ol7qH_D-iR8?si=gAyd1u4XbIR9IHXo

[TokyoBoglehead]

Come on people, let’s not be harsh here. Whether the comment makes sense to you or not is irrelevant; what I suspect is OP does not foresee having any spare money to put into the account this year, in which case they see the efforts spent opening the account as wasted.

But as was pointed out, opening a NISA account now has the benefit (and I suspect OP does not know this) of making enrolment into the new NISA automatic, so their efforts would not be spent in vain.

And as goran pointed out, in case they have an unexpected influx of money before the end of the year, wouldn’t it be better to have the option of putting it into their NISA account, while not using their new NISA allotment?

Things to think about. If it were me, I would open a NISA account now: there are no downsides, as far as I can see.

It does not make sense as he is setting up a Junior Nisa as well, (stating he might not have the funds to contribute).

IMO he should focus on opening all accounts, and see where things lie by December.

He should not contribute his own money into a J-Nisa before utilizing his own 2023 Nisa.

iDeco>2023 Tsumitate/Regular>Junior Nisa (with own money)

I Do apologize if "sense" seemed harsh. As others read these posts for advice, I thought it necessary to mark that plan as not ideal. I will rephrase what I wrote.

[_To_]

Sorry for leaving such a controversial statement here and then not checking back in for some days

You are all completely right!

・・・・I won't bother to set up 2023 NISAs for us. I am generally optimistic about the future but not THAT optimistic )・・・・

It DOES not make any sense! (And I am not offended by anybody pointing that out )
I said this because of a grave lack of information and basic understanding about how the old and new NISA systems work.
I had read up on iDeCo first to get that off the to do list and had not delved into the details of NISA yet.

Most notably, I did not know that you could put a lump sum of 400.000 into a tsumitate NISA via the "bonus" option and assumed it had to be a monthly payment of 33,333 yen. Furthermore, I was not aware that Tsumitate NISA was limited at 400.000 per person. Had not really thought about the limit at all actually and just somehow assumed it to be much higher (probably confusing it with the limit on regular NISA). I also wrongly assumed that this monthly contribution of 33,333 yen would continue over the 20 year period in the old NISA when set up this year (until the before-mentioned not at all properly contemplated limit would eventually be reached). Even though it seems like new contributions into the old system will not be possible anymore come January anyway.
So my completely unfounded concern was that I did not expect to be able to contribute 66.666 a month (over 20 years! ) into the old NISA plus 136.000 iDeCo plus trying to max out the allowance in the new NISA (which I hadn't read up on yet either) for my wife and me. And I did not want to set myself up for a whole bunch of automatic payments that I wasn't sure I could afford in the long run.

I somehow came across the 800.000 yen lump sum option on the Junior NISA early, though (I think the RetireJapan Youtube Channel?), so I decided that should be taken advantage of as it could be left to stew until my son is 18. (Just as - as I know now - the old tsumitate NISA can for my wife and me for 20 years!)

Another factor was our very limited bandwith to deal with things at the moment. We are both very busy keeping our business running smooth while battling a constant influx of pathogens that our son brings home from daycare weekly since he started going in April
So I basically thought it would be too much hassle to set up NISA this year (not being sure I could take advantage of it / fearing it could potentially financially drain us empty) and then again next year.
That argument, of course, being invalidated by the fact that the new NISA will be set up automatically if you set up an old NISA now (so it is two tax advantaged investment accounts for the price of doing paperwork once) and also by the fact that you (probably?) need to open a parent NISA account before you can open a Junior NISA account anyway.

So, TLDR:
I am sorry I spoke without thinking
A LOT of wrong assumptions went into that thoughtlessly blurted out sentiment and I am a bit embarassed in retrospect.

What we will do:
- iDeCo is already set up now.
- we will open 2023 NISA accounts for the three of us post-haste and fill them up with the lump sum payments (maybe with the help of all grandparents)
- we will enjoy brand new automatically created NISA accounts from January and try to fill them up as much as possible until the yearly limits are reached

Thank you to everybody for their input! I learned a lot from just the comments alone.
(If I STILL got some stuff wrong please let me know)