RetireJapan

I have my NISA with SBI, but until now have always just used the whole allocation with random deposits so I have never used tsumitate NISA. As I understand it, the new NISA will require me to do a tsumitate portion and a regular portion. I know they will automatically open a new NISA for me in 2024, but I'm not sure if I have to do anything to set up the tsumitate portion other than choose my funds. So far for my regular NISA I just transfer funds to SBI and they sit in the SBI holding account until I buy something with them. I am wondering if I can just carry on doing that and they will take the funds each month from the SBI account and apply it to my chosen tsumitate funds (also don't know how I go about choosing them yet, but assume that will be clear enough when the time comes!) or do I need to set up a direct debit from my regular bank to SBI? Basically, I don't know what I have to do to get the new NISA up and running, so can anyone explain getting the tsumitate bit going in an easy manner!

goodandbadjapan wrote: ↑Tue Nov 21, 2023 2:39 amcan anyone explain getting the tsumitate bit going in an easy manner!

You need to set it up.

Go to the funds you want, click the green 積立買付, and you can do it from there. Choose NISA（つみたて投資枠）as the account type.

It will deduct the cash it from your broker account balance on the clearing date of each regular transaction.

adamu wrote: ↑Tue Nov 21, 2023 2:58 am

goodandbadjapan wrote: ↑Tue Nov 21, 2023 2:39 amcan anyone explain getting the tsumitate bit going in an easy manner!

You need to set it up.

Go to the funds you want, click the green 積立買付, and you can do it from there. Choose NISA（つみたて投資枠）as the account type.

It will deduct the cash it from your broker account balance on the clearing date of each regular transaction.

Many thanks - just had a look and it seems easy enough.

I had a quick look on Sunday and couldn't see the new NISA accounts on the main page that shows a summary of all your accounts. So I decided to leave it for a week or two, then have a proper crack at it. We'll apply for SBI credit cards in the meantime. The cash back is pretty crap, 3000 yen per person per year if I'm reading it right, but better than nothing and it will increase in the future if/when the 50k per month purchase limit is increased.

I have a quick question... hopefully not too stupid Can I set up recurring monthly orders for the 2.4m growth part of the account (as well as recurring orders for the 1.2m tsumitate part)? Or do I have to buy the growth funds manually each time? Thanks.

northSaver wrote: ↑Tue Nov 21, 2023 12:51 pm I had a quick look on Sunday and couldn't see the new NISA accounts on the main page that shows a summary of all your accounts. So I decided to leave it for a week or two, then have a proper crack at it. We'll apply for SBI credit cards in the meantime. The cash back is pretty crap, 3000 yen per person per year if I'm reading it right, but better than nothing and it will increase in the future if/when the 50k per month purchase limit is increased.

I have a quick question... hopefully not too stupid Can I set up recurring monthly orders for the 2.4m growth part of the account (as well as recurring orders for the 1.2m tsumitate part)? Or do I have to buy the growth funds manually each time? Thanks.

I couldn't see anything but I don't think you will see anything until next year but I think, as adamu said, if you go to the fund you want to buy in tsumitate and push buy on the tsumitate button it takes you through setting up the order and presumably that will then automatically kick in next year and show up on your accounts bit. That's what I guessed from my brief look earlier. I pushed the button and it brought up the info for setting up monthly purchases etc. I didn't have time to do it properly so stopped at that point, but will probably try and set it up this weekend.

northSaver wrote: ↑Tue Nov 21, 2023 12:51 pm Can I set up recurring monthly orders for the 2.4m growth part of the account (as well as recurring orders for the 1.2m tsumitate part)?

Yes. Do this:

adamu wrote: ↑Tue Nov 21, 2023 2:58 am Go to the funds you want, click the green 積立買付, and you can do it from there. Choose NISA（つみたて投資枠）as the account type.

Except choose NISA（成長投資枠）instead.

If you've already set up a つみたて投資枠 for that fund, you can press 追加 to add the 成長投資枠 too.

adamu wrote: ↑Tue Nov 21, 2023 1:23 pm Yes. Do this:
...

Thanks, that sounds pretty easy. I wonder if I can set different dates for the tsumitate and growth recurring orders? Don't need to answer, I'll find out when I do it. I'm just thinking that buying 30 man of funds in one day might not be as wise as buying 10 man on one day and 20 man two weeks later. Or even split it into three orders of 10 man each with 10 days in between! Hmm... something to think about.

adamu wrote: ↑Tue Nov 21, 2023 2:58 am

goodandbadjapan wrote: ↑Tue Nov 21, 2023 2:39 amcan anyone explain getting the tsumitate bit going in an easy manner!

You need to set it up.

Go to the funds you want, click the green 積立買付, and you can do it from there. Choose NISA（つみたて投資枠）as the account type.

It will deduct the cash it from your broker account balance on the clearing date of each regular transaction.

So when we do the above procedure, it will do that each and every month 'for ever'? My wife is hesitant to commit to the ¥100k pm on top of our iDeCos. Sometimes we don't have enough to invest in NISA that month. Could that be a problem? We missed an iDeCo payment once by mistake and things just continued.

Also, once the above has been set up, do we know how to cancel that and change to another fund?

banders wrote: ↑Wed Nov 22, 2023 2:31 am So when we do the above procedure, it will do that each and every month 'for ever'?

That’s right, so long is there is cash in your account to put in, I should think.

My wife is hesitant to commit to the ¥100k pm on top of our iDeCos. Sometimes we don't have enough to invest in NISA that month. Could that be a problem?

NISA or not, your wife seems wise here and you only need put in as much as you think you can sustainably each month. Doesn’t matter at all in you only do 1,000, 10,000, 50,000, however much you are comfortable with.

If you do find yourself with extra cash you can invest it in NISA then, or up your monthly tsumitate amounts.

We missed an iDeCo payment once by mistake and things just continued.

I imagine tsumitate nisa will just skip your monthly order if you didn’t have the cash available in your account. (Perhaps they might eventually cancel your orders if you never have money available though… not sure actually)

Also, once the above has been set up, do we know how to cancel that and change to another fund?

That will definitely be possible.
I use Monex, but one can revise an existing tsumitate order, or cancel one, or place a new one.

adamu wrote: ↑Tue Nov 21, 2023 1:23 pm

northSaver wrote: ↑Tue Nov 21, 2023 12:51 pm Can I set up recurring monthly orders for the 2.4m growth part of the account (as well as recurring orders for the 1.2m tsumitate part)?

Yes. Do this:

adamu wrote: ↑Tue Nov 21, 2023 2:58 am Go to the funds you want, click the green 積立買付, and you can do it from there. Choose NISA（つみたて投資枠）as the account type.

Except choose NISA（成長投資枠）instead.

If you've already set up a つみたて投資枠 for that fund, you can press 追加 to add the 成長投資枠 too.

Following on from this, I've set my recurring orders for MFs no problem, but when I tried to do it for a US ETF it gave the impression that I couldn't do it (can't remember the exact wording sorry). Does this sound right, or am I doing it from the wrong place? I wonder why recurring orders would be allowed for MFs but not foreign ETFs? And I wonder what exchange rate will be used when I buy a foreign ETF with yen cash? Hopefully not an unfavourable (loaded) one?

The only reason I want do this is because I want to stop contributing to this asset class in iDeCo and start in NISA due to a large fee difference. And the spare USD in my taxable account is earning good interest so I don't want to do it there instead. The asset class is gold so reinvesting dividends is not an issue.