RetireJapan

Karune wrote: ↑Mon Feb 17, 2025 11:58 am

Tsumitate Wrestler wrote: ↑Mon Feb 17, 2025 12:13 am What are your nationalities?

Do you have brokerage accounts in your home countries?

General advice for 5 years is:

1.Skip ideco
2. Strongly consider NISA (non-Americans)
3. Consider a strategy you can replicate back in your home country.
4. Have a home country brokerage setup as well.
5. I would say 100% diversified global equities is fine at 20.

Thanks for the tips. I am from Australia, but I have no brokerage account, just a generic savings one with extremely low interest rates. I am looking to change this however.

For NISA, is it as easy as just opening an account with my current bank (in this case, Resona), or is there a better way that I should be aware of?

If you are Australian you might want to consider MONEX as they have a branch in Japan and Australia.

Generally Rakuten/SBI/Monex are the recommended brokers. Do not use a bank, they have a poor selection of funds.

Karune wrote: ↑Mon Feb 17, 2025 11:58 am For NISA, is it as easy as just opening an account with my current bank (in this case, Resona), or is there a better way that I should be aware of?

Going with Monex or SBI or Rakuten means you'll most likely always have access to the most competitive funds.

However, most banks these days have a decent option. For Resona, it's their Smart-i Select 全世界株式インデックス which is not a bad choice either if you want to keep everything at one institution, and it's better than not opening a NISA due to analysis paralysis. But I would still prefer major online broker, as the others said above, to make sure you have access to the best options in the industry, not whatever your bank decided their customers would buy.

See also https://retirewiki.jp/wiki/NISA#Choosin ... A_provider

adamu wrote: ↑Mon Feb 17, 2025 1:42 pm

Karune wrote: ↑Mon Feb 17, 2025 11:58 am For NISA, is it as easy as just opening an account with my current bank (in this case, Resona), or is there a better way that I should be aware of?

Going with Monex or SBI or Rakuten means you'll most likely always have access to the most competitive funds.

If I open an account with those brokers, will they allow me to keep the account once I move back to Australia in the future? Would like something portable if possible to make things simpler in the future

Karune wrote: ↑Thu Feb 20, 2025 8:57 am

adamu wrote: ↑Mon Feb 17, 2025 1:42 pm

Karune wrote: ↑Mon Feb 17, 2025 11:58 am For NISA, is it as easy as just opening an account with my current bank (in this case, Resona), or is there a better way that I should be aware of?

Going with Monex or SBI or Rakuten means you'll most likely always have access to the most competitive funds.

If I open an account with those brokers, will they allow me to keep the account once I move back to Australia in the future? Would like something portable if possible to make things simpler in the future

No, if you move back permanently you'll have the sell the NISA whichever provider you choose, including your bank.