For those of us who have the legacy NISA, will we have to go through the process of opening a new account for 2024, or will Rakuten automatically open an account for us?
Also what is going to be the provision for the kids? I know there is no Junior element but I wonder if there was Something? Otherwise, I will just have to fill up my kid's NISA this year, and let it sit.
New NISA from 2024
Re: New NISA from 2024
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Re: New NISA from 2024
Seems like most brokers will open a New NISA for their existing NISA account holders unless instructed otherwise.Bubblegun wrote: ↑Sun Apr 02, 2023 4:49 am For those of us who have the legacy NISA, will we have to go through the process of opening a new account for 2024, or will Rakuten automatically open an account for us?
Also what is going to be the provision for the kids? I know there is no Junior element but I wonder if there was Something? Otherwise, I will just have to fill up my kid's NISA this year, and let it sit.
No kids' accounts from 2024 (other than pre-existing Junior NISA, which will run until the children reach 18 but cannot be added to).
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Re: New NISA from 2024
Hello! I don't know where to post this to get the best answer --- I need some guidance and help with opening up a New NISA 2024 style -- I will start with some background about my situation :
1. I am a Canadian woman living in Japan -- I am aged 40-45
2. I have been Investing in iDeco for the last two years or so-- under the category 3 Housewife contribution through Japan Post Bank
3. Inside the iDeco I have been investing in a Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040
4. My husband who is Japanese would like me to open the New NISA 2024 style now so I can invest more money than I am currently able to under the iDeco limitation for Catagory 3 to try to grow more for my retirement/ future as well as protect this money from any inheritance issues if he was to die before me.
So my QUESTION :
To open the New 2024 style NISA do I need to :
A. Stop investing and sell/ close out the Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco and then open a New 2024 style NISA?
or
B. do I need to stop investing the money into Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco-- but I can still let it sit there and grow? while opening the NEW 2024 NISA Separately
or
C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
or
D. Is there another method or way to deal with this that I don`t know about?
Though I have a minor background in university-level finance classes -- understanding this system and how to navigate it is difficult for me -- I hope to get some guidance -- thank-you in advance.
1. I am a Canadian woman living in Japan -- I am aged 40-45
2. I have been Investing in iDeco for the last two years or so-- under the category 3 Housewife contribution through Japan Post Bank
3. Inside the iDeco I have been investing in a Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040
4. My husband who is Japanese would like me to open the New NISA 2024 style now so I can invest more money than I am currently able to under the iDeco limitation for Catagory 3 to try to grow more for my retirement/ future as well as protect this money from any inheritance issues if he was to die before me.
So my QUESTION :
To open the New 2024 style NISA do I need to :
A. Stop investing and sell/ close out the Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco and then open a New 2024 style NISA?
or
B. do I need to stop investing the money into Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco-- but I can still let it sit there and grow? while opening the NEW 2024 NISA Separately
or
C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
or
D. Is there another method or way to deal with this that I don`t know about?
Though I have a minor background in university-level finance classes -- understanding this system and how to navigate it is difficult for me -- I hope to get some guidance -- thank-you in advance.
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Re: New NISA from 2024
There is no relationship between iDeCo and NISA, you can use both at the same time.
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Re: New NISA from 2024
Yes, C.sakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
I'm more curious why you chose the Nomura Asset Planning Fund though, do you know what its fees are and have you compared it to an alternative low cost index fund?
Re: New NISA from 2024
What happened in Old NISA stays in Old NISA...adamu wrote: ↑Wed Jan 31, 2024 3:54 amYes, C.sakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
I'm more curious why you chose the Nomura Asset Planning Fund though, do you know what its fees are and have you compared it to an alternative low cost index fund?
What happens in New NISA, happens in New NISA... (as they say)
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
Re: New NISA from 2024
Good point. I didn't read the full thread.
No, Just leave the iDeCo doing what it is doing.sakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am Hello! I don't know where to post this to get the best answer --- I need some guidance and help with opening up a New NISA 2024 style -- I will start with some background about my situation :
1. I am a Canadian woman living in Japan -- I am aged 40-45
2. I have been Investing in iDeco for the last two years or so-- under the category 3 Housewife contribution through Japan Post Bank
3. Inside the iDeco I have been investing in a Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040
4. My husband who is Japanese would like me to open the New NISA 2024 style now so I can invest more money than I am currently able to under the iDeco limitation for Catagory 3 to try to grow more for my retirement/ future as well as protect this money from any inheritance issues if he was to die before me.
So my QUESTION :
To open the New 2024 style NISA do I need to :
A. Stop investing and sell/ close out the Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco and then open a New 2024 style NISA?
Though as others have said, you might want to think about switching the allocation of new inputs, and the existing assets between funds in the iDeCo, which you can do completely tax fee, as the switch will be within the iDeCo wrapper and not subject to any taxation.
Disbursements from iDeCo will only be taxed in Retirement.
Dittosakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am B. do I need to stop investing the money into Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco-- but I can still let it sit there and grow? while opening the NEW 2024 NISA Separately
What happens in iDeCo stays in iDeCo...
What happens in New NISA stays in New NISA... as they say...
Yessakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
Though as others have said...
Leave the iDeCo doing what it is doing and add New NISA - Tsumitate for regular Inputs, or Growth Portion for Lump Sum Inputs...sakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am D. Is there another method or way to deal with this that I don`t know about?
Though I have a minor background in university-level finance classes -- understanding this system and how to navigate it is difficult for me -- I hope to get some guidance -- thank-you in advance.
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
Re: New NISA from 2024
Seems to be over 0.4%adamu wrote: ↑Wed Jan 31, 2024 3:54 amYes, C.sakuramelodymusic wrote: ↑Wed Jan 31, 2024 3:21 am C. Can I still invest in this Nomura Asset Planning Fund -- (DC/Tsumitate NISA) 2040 inside my iDeco while opening the New 2024 style NISA separately?
I'm more curious why you chose the Nomura Asset Planning Fund though, do you know what its fees are and have you compared it to an alternative low cost index fund?
https://www.nomura-am.co.jp/fund/pros_gen/Y2400062.pdf
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