RetireJapan

TJKansai wrote: ↑Fri Apr 02, 2021 11:01 am I have been fumbling along with Jr NISA/NISA/Tsumitate NISA for the family, iDeCo, overseas funds and US funds and stocks. Paying taxes in US and Japan

That sounds... perfectly fine if not slightly overachiever-y

Welcome!

Posting a big thank you to Ben, and the dozens of other posts I've read this past month as a lurker.

With this site's help I've finally understood how DCs, NISAs, crypto, general investing and much more work in Japan. I've managed to set up most things and learnt a lot along the way. I still have lots of questions so I'll be viewing frequently as I ask, and also share some of my learnings.

✔ Corporate DC plan maxed contributions and diversified allocations (iDeCo not allowed)
✔ NISA and regular taxable accounts created, investments made
✔ Crypto account created, dipped my toe in
✔ Declined Rakuten bank.....
.....☐ Need to figure out how to automate the monthly investments now
✔ UK NI voluntary contributions form posted
☐ Do furusato nozei
☐ Do taxes (planning to hold assets, should be simple despite nisas, taxable investments, crypto?)

Tolmekian wrote: ↑Sun Oct 31, 2021 1:49 am With this site's help I've finally understood how DCs, NISAs, crypto, general investing and much more work in Japan. I've managed to set up most things and learnt a lot along the way. I still have lots of questions so I'll be viewing frequently as I ask, and also share some of my learnings.

Fantastic! Great to hear.

You've actually inspired a blog post too -stay tuned

>✔ Corporate DC plan maxed contributions and diversified allocations (iDeCo not allowed)

Is it actually a thing that you can be denied/prevented from using iDeCo if you max out a company DC plan? I thought that your iDeCo contributions would be small, but 0 is a possibility as well?

beanhead wrote: ↑Sun Oct 31, 2021 8:12 am >✔ Corporate DC plan maxed contributions and diversified allocations (iDeCo not allowed)

Is it actually a thing that you can be denied/prevented from using iDeCo if you max out a company DC plan? I thought that your iDeCo contributions would be small, but 0 is a possibility as well?

Currently, depending on what kind of corporate scheme you're on, I believe for some people yes. I think this is due to change soon though to allow people to have iDeCo too, regardless of their corporate plan.

Starting October 2022 you can get an iDeCo even if you're on a corporate DC plan but you need to be matching 0. I don't know what the iDeCo allowance will be in this case but I want to move to iDeCo if its more than what I'm matching in my DC plan now.

beanhead wrote: ↑Sun Oct 31, 2021 8:12 am >✔ Corporate DC plan maxed contributions and diversified allocations (iDeCo not allowed)

Is it actually a thing that you can be denied/prevented from using iDeCo if you max out a company DC plan? I thought that your iDeCo contributions would be small, but 0 is a possibility as well?

With my corporate DC it states "Not concurrently eligible for an individual-type DC plan when the contributions are 55,000yen/month
(660,000yen/year)" in the FAQ. I think the 55K cap and resulting iDeCo exclusion is a general rule for most corporate DC, but could be mistaken.

zeroshiki wrote: ↑Sun Oct 31, 2021 1:52 pm Starting October 2022 you can get an iDeCo even if you're on a corporate DC plan but you need to be matching 0. I don't know what the iDeCo allowance will be in this case but I want to move to iDeCo if its more than what I'm matching in my DC plan now.

Great news, I've seen small pieces of info on this across the forum. Looking forward to more clear instructions next year.

Hi all, just joined after readings various sections unregistered for the last week or so, and saw a lot of valuable information here.

I’ve been living in Japan since 2002, with a 3-year gap in the middle, so 17 years total. Married with one kid.

Contributing to 厚生年金 with a bit of voluntary retroactive 国民年金 prior to it. Joined new workplace last year wich has DC 企業型確定拠出年金 and finally got a basic understanding of how it works.

In the course of opening a 積立NISA account with Monex via Shinsei Bank. Considering a further Junior NISA for my kid, and already persuading my Japanese wife to open her own iDeCo and Tsumitate NISA accounts ASAP.

Nice to meet you all! よろしくお願いします。

Godfather wrote: ↑Tue Feb 22, 2022 6:09 am Hi all, just joined after readings various sections unregistered for the last week or so, and saw a lot of valuable information here.

Welcome to the forum! Sounds like you are on the right track

Godfather wrote: ↑Tue Feb 22, 2022 6:09 am Hi all, just joined after readings various sections unregistered for the last week or so, and saw a lot of valuable information here.

I’ve been living in Japan since 2002, with a 3-year gap in the middle, so 17 years total. Married with one kid.

Contributing to 厚生年金 with a bit of voluntary retroactive 国民年金 prior to it. Joined new workplace last year wich has DC 企業型確定拠出年金 and finally got a basic understanding of how it works.

In the course of opening a 積立NISA account with Monex via Shinsei Bank. Considering a further Junior NISA for my kid, and already persuading my Japanese wife to open her own iDeCo and Tsumitate NISA accounts ASAP.

Nice to meet you all! よろしくお願いします。

Sounds great!

You have a child, so have you also looked into Term life insurance?

Word of warning the Junior Nisa program will be terminated in 2024. You have 2022 and 2023 left though! １６０万 worth of possible contributions. It looks like there will be no replacement, so best to use it when you can.