Page 1 of 1
Best Options for College Funds in Japan?
Posted: Sat Apr 25, 2020 6:26 am
by Kanto
With the Junior NISA being retired in 2023 what is the best option for college funds?
(Assuming that you already have a NISA and iDeco setup)
Is it still worth it to open one? Or should I look at traditional investing once I have exhausted regular Nisa and Ideco?
Re: Best Options for College Funds in Japan?
Posted: Sat May 02, 2020 12:53 pm
by fools_gold
I might be wrong about this, but my understanding was that even though you can't make any new contributions to the Junior NISA after 2023 your investments will continue to grow (or shrink!) tax-free until your child reaches 18. So, it seems like it's still worth opening one up and maxing it out for a few years. Source:
https://dime.jp/genre/897127/ and
https://headlines.yahoo.co.jp/hl?a=2020 ... field-life
Re: Best Options for College Funds in Japan?
Posted: Mon May 04, 2020 4:02 am
by Kanto
Those are great resources. Thank you very much.
We will look to max out iDeco and つみたて and then fund the junior with our remaining savings.
Fingers crossed that Japan replaces it with a similar product. However, I believe things will be simplified to the つみたて NISA and IdeCo only in the future.
Re: Best Options for College Funds in Japan?
Posted: Mon May 04, 2020 4:31 pm
by Moneymatters
Minor point.
But I think it will remain tax free util the kid is 20. Then from 20 they can establish their own Standard or Tsumetate NISA
18 is supposed to be the earliest age funds can be removed from a Junior NISA.