RetireJapan

northSaver wrote: ↑Wed Dec 06, 2023 1:07 am

Bushiman wrote: ↑Tue Dec 05, 2023 11:48 pm I have an Online BNS Saver account with HSBC that is paying me 4% right now and the money is not locked in -I can add/withdraw instantly...

I still use NS&I Premium Bonds for my almost instant access account (it takes a day or two to get the money transferred to Lloyds). Their average rate at the moment is 4.65%, and the last time I checked I was getting about that (average luck I guess). I expect that rate to drop fairly soon though. It's a bit of a thrill to check how much I've won each month using their online prize checker... also the faint glimmer of hope that Agent Millionaire will call me personally I was a bit doubtful that overseas folk were treated the same as UK residents but I see that at least one overseas resident won £100k in November so I guess it is truly random.

Roger Van Zant wrote: ↑Wed Dec 06, 2023 2:17 am I wish I could set this up from Japan, but when I tried to do so, it said I had to be UK-resident.
I have an account with NatWest all ready to use.

northSaver wrote: ↑Wed Dec 06, 2023 3:32 am

Roger Van Zant wrote: ↑Wed Dec 06, 2023 2:17 am I wish I could set this up from Japan, but when I tried to do so, it said I had to be UK-resident.
I have an account with NatWest all ready to use.

Did you get told this when applying online? I just tried it now as a test and got this message:
"As the address is not in the UK, you can't apply online. You'll need to apply by phone on +44 1253 832 007"

You can definitely hold premium bonds if you're not UK-resident, they state this clearly in the FAQ. The application process is not as easy though, and you will need to send certified proof of address in English as well as your passport copy.

I actually opened my account years ago using my parents' UK address, then changed it to my Japanese address online. I don't think they even asked me to prove the new address, come to think of it. I guess things are stricter now

Tsumitate Wrestler wrote: ↑Wed Dec 06, 2023 12:33 am

sutebayashi wrote: ↑Tue Dec 05, 2023 1:08 pm
- FX accounts - interest equivalent can be had, but the main attraction for me is to speculate on currencies and I do that here, away from my investments. Tax rate is again 20%
- Futures trading - same as FX but instead trading gold and platinum mini contracts in yen terms… getting more niche
- CFD trading - yet more things to speculate on… you could do much of this via a tokutei account too though

Oh, very spicy! Any luck with CFDs?

sutebayashi wrote: ↑Wed Dec 06, 2023 1:27 pm

Tsumitate Wrestler wrote: ↑Wed Dec 06, 2023 12:33 am

sutebayashi wrote: ↑Tue Dec 05, 2023 1:08 pm
- FX accounts - interest equivalent can be had, but the main attraction for me is to speculate on currencies and I do that here, away from my investments. Tax rate is again 20%
- Futures trading - same as FX but instead trading gold and platinum mini contracts in yen terms… getting more niche
- CFD trading - yet more things to speculate on… you could do much of this via a tokutei account too though

Oh, very spicy! Any luck with CFDs?

Yes, all speculative profit make I put down to luck, lest I blow it shortly thereafter by mistaking myself for a market wizard.

I have CFD account with Rakuten, and recently opened one with IG sec. IG sec is renowned for its vast range of instruments (and I read a book on CFDs by their CEO from my local library), plus I like their English version for market news in English. Unfortunately if one is resident in Japan they only give you the user interface in Japanese for a proper non-demo account, so it could use some work… but that’s run if the mill for foreigners in Japan I guess.

Rakuten has the main instruments I might want to trade, but I like to have a couple of accounts in case one has technical troubles… I have seen this in the past with sudden market earthquakes when one broker just freezes.

CFDs are best suited to somewhat active, short term dealing I feel, but it depends on the instrument I guess. I was surprised recently when I went long WTI, I think it was, and yet the daily funding cost was positive? I still have a bit to learn.

Matt_Black wrote: ↑Tue Dec 05, 2023 10:28 am I have some money sitting in my UK back account and not doing much work. I'd like to use £10k of it and invest.

I currently live and work here in Japan and have no plans to leave. I also max out all tax advantaged investment options and put some extra in my taxable Rakuten securities account.

The first thing that comes to mind is to leverage the cheap yen, move the money to Japan and put towards maxing out the new NISA. I am keen to hear if you have other ideas either in Japan or outside.

Bubblegun wrote: ↑Thu Dec 07, 2023 2:19 pm

Matt_Black wrote: ↑Tue Dec 05, 2023 10:28 am I have some money sitting in my UK back account and not doing much work. I'd like to use £10k of it and invest.

I currently live and work here in Japan and have no plans to leave. I also max out all tax advantaged investment options and put some extra in my taxable Rakuten securities account.

The first thing that comes to mind is to leverage the cheap yen, move the money to Japan and put towards maxing out the new NISA. I am keen to hear if you have other ideas either in Japan or outside.

Its not really an investment per sae but there is another option that I think gives a great return for your money. If you can, you could pay into the UK state pension class 2.
I think thats an awesome rate of return. Depending on your age, and time to retirement. Especially since the 10-year back-date payment is still available.
It is a guaranteed return on that. £3:45pence a week.
£3.45 X 52= £179.40 per year

£179.40 X 10 year = £1794 invested. Still leaving you with £8206. to bring over. Either as an emergency fund, or pop into IDECO.NISA.

Deep Blue wrote: ↑Thu Dec 07, 2023 4:05 am I locked some GBP away for two years at 5.5% interest with Lloyds bank last month.