Simple Q&A - NISA

[zeroshiki]

Do we know this for a fact? Why is Rakuten asking us to "reserve" the new NISA payments in January if the TNISA would just be rolling over anyways?

[Tkydon]

Do we know this for a fact? Why is Rakuten asking us to "reserve" the new NISA payments in January if the TNISA would just be rolling over anyways?

As the Tsumitate Annual Limit is rising next year from Y400,000 this year to Y1,200,000 next year you can increase your monthly contributions to the new level of Y100,000 per month if you want.

Or you can set the monthly contribution lower than that and pay Bonus Contriubutions throughout the year, when you have extra money to put in, or you can choose to put those irregular contributions in the Growth Part up to the new limit of Y2,400,000 per year.

[KCLenny]

I have a standard tsumitate NISA, it has about 400,000 in.
Do I have to do anything to prepare for the new NISA next year?

No.

Will it just continue or automatically change over?

Yes.

Just doing emaxis slim all country, 10,000 a month. Thinking about increasing this. Worth doing now or waiting until the new NISA starts?

Worth doing now.

Perfect. Thank you for the concise answer.

[Bushiman]

Will it just continue or automatically change over?

Yes.

Cool! So I have my TNISA running now at ¥4man a month (the ¥33,333 + ¥6,667 thanks to a late start in the year). Does this mean I don't have to do anything and it'll continue to invest ¥4man a month into the same eMaxis Slim All-Country? If so, that's great!

Do we know this for a fact? Why is Rakuten asking us to "reserve" the new NISA payments in January if the TNISA would just be rolling over anyways?

Just logged into Rakuten and see this:





So it looks like everything will just continue as before...

[Beaglehound]

Quick question, I currently don't have a NISA but am going to set one up for next year. My Ideco is with SBI. Is it likely to make the setting up process easier to stick with them for the NISA? I know Ideco is a separate beast to some extent and I don't know if SBI would require me to set things up for NISA as a 'new customer'.

[adamu]

Is it likely to make the setting up process easier to stick with them for the NISA?

No.

I know Ideco is a separate beast

Exactly.

[Tsumitate Wrestler]

No.

Do you have a general trading account with SBI? Then yes, It likely will be less paperwork. It would probably be easier than starting from fresh with a new broker

[Beaglehound]

No general account so looks like it's from scratch. Thanks guys.

[RetroNewbie]

I have a tsumitate NIsa with SMBC because I have an Olive account with them and it was easiest to set up.

It sounds like opening an SBI NIsa is beneficial in terms of paying by credit card and getting points though.

If so, should I just stop paying into my SMBC one after the final date (about Dec 15th iirc), leave the cash in there, and then open a totally new one with SBI in Jan?

[zeroshiki]

I don't think its as simple as that. I think the deadline to apply for the 2024 NISA has already passed so you're getting your NISA in SMBC for 2024. You could try to move accounts but it will take some paperwork and alot of patience.