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Re: Advice should I change my Euro’s and invest it into NISA
Posted: Tue Jul 16, 2024 9:03 am
by adamu
Oliver wrote: ↑Mon Jul 15, 2024 11:35 pmMy wife recommended that we change it and invest it into NISA eMAXIS all country as it has preformed very well in my opinion.
eMaxis Slim All Country tracks the MSCI ACWI, of which over 90% is invested in non-Japanese stocks, about 60% in the US. So whether you buy an equivalent ACWI fund with euros, or convert to yen and buy it in yen, it doesn't make much difference. What you own will be largely non-Japanese, mostly US stocks, not affected much by the yen exchange rate.
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Tue Jul 16, 2024 1:54 pm
by Oliver
Can I invest in my NISA with Euro’s?
I have an SBI account for my NISA and I am not sure they will accept Euro’s. I am a super beginners so what may seem basic knowledge to some would be new to me.
Can you use Euro’s in SBI NISA if yes how do you transfer it?
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Tue Jul 16, 2024 2:13 pm
by Oliver
Also what is a good exchange rate for the Euro?
As in how much should the shop charge for the service of exchange that is competitive?
There is a place in the next town to mine that has an money exchange that I used for smaller amounts of Euros. I didn’t care very much as the amounts were small.
But, I am curious if there price is competitive.
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Tue Jul 16, 2024 7:52 pm
by adamu
Oliver wrote: ↑Tue Jul 16, 2024 1:54 pm
Can I invest in my NISA with Euro’s?
No. But I'm pointing out that the motivation you stated: weak yen, is not a good reason to transfer euros to yen, if what you then do is buy an investment in primarily non-yen denominated assets. You're not getting more for your money now due to the exchange rate, you're getting the same.
It's like buying a Big Mac in euros, or converting them to yen then buying a Big Mac in yen. You still get a Big Mac.
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Tue Jul 16, 2024 9:17 pm
by captainspoke
(side note:
big macs do vary from country to country--scroll to the chart, eg salt might range from 1 gram to 2.8 grams, fats from 22g - 31g. I used to use a similar chart when teaching)
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Wed Jul 17, 2024 1:32 am
by Oliver
This all great advice! Thank you everyone.
But, just so there is no doubt in my mind and I didn’t miss anything.
It is smarter to put you Euro now turned into yen into NISA then leaving them in a box in the bottom of you wardrobe, right?
Regardless if I get the best rates in money exchange shop in 10 years it will be the smart choice to invest it.
I had this money for 10 years in a box and I haven’t profited from it besides a peace of mind that I have some money in my socks drawer…….
PS I do have an emergency money now. I don’t think I need it even in an emergency.
I think this may be emotional money.
Can anyone relate?
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Wed Jul 17, 2024 1:40 am
by Tsumitate Wrestler
Oliver wrote: ↑Wed Jul 17, 2024 1:32 am
This all great advice! Thank you everyone.
But, just so there is no doubt in my mind and I didn’t miss anything.
It is smarter to put you Euro now turned into yen into NISA then leaving them in a box in the bottom of you wardrobe, right?
Regardless if I get the best rates in money exchange shop in 10 years it will be the smart choice to invest it.
I had this money for 10 years in a box and I haven’t profited from it besides a peace of mind that I have some money in my socks drawer…….
PS I do have an emergency money now. I don’t think I need it even in an emergency.
I think this may be emotional money.
Can anyone relate?
It is all relative.
If you put the money in your NISA and sell your holdings during a market panic, or buy stock in a MEME company then perhaps the shoebox is better.
If you have an emergency fund, invest in something sensible, (like your wife suggested! ala Emaxis Slim All country), and DO NOT SELL, but hold these funds for 10+ years, yes that will almost certainly be better.
Having 3-6 months expenses in your 30s is sensible IMO. More, as you age, (or bonds if you prefer).
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Wed Jul 17, 2024 2:43 am
by sutebayashi
Oliver wrote: ↑Wed Jul 17, 2024 1:32 am
Can anyone relate?
Another vote here to invest the cash rather than keep it in your sock drawer.
(At least you might get some interest if you deposited it with a bank, but without even that it’s money subject to inflation.)
If you are thinking that euros can buy a lot of yen now, that is true, but if you are thinking to buy yen, then wait for the yen to strengthen before investing those yen later, that’s more of a forex speculation than an investment, and not as good an idea as investing it.
Re: Advice should I change my Euro’s and invest it into NISA
Posted: Wed Jul 17, 2024 3:17 am
by Oliver
Thank you everyone! Great advice!