Mametasu - WealthNavi

[FIRE-Rookie]

Hey peeps,

I recently heard about Mametasu. I am aware they charge a whooping 1% but they also do the tax management for capital gains/losses which kinda balances it out for the lazy investor.

Currently, I have allowed Mametasu to connect on my MoneyTree account so it can see my Credit Card transactions and suggest a daily withdrawal rate based on my usage. (Basically rounding every transaction to the nearest 100 yen)

I just wanted to check the how their withdrawal system works. As far as I understand, these accumulations of 100 yen must add to 10,000 yen before they start investing. Moreover, the site mentioned to transfer at least 30,000 yen which is kind of contradicting. Does anyone have any experience with their withdrawal system? If you worked with them, are their returns good? Any thoughts in general?

Thanks a lot in advance!

[Kanto]

1% is a lot.

As far as tax- management, Japanese brokers do that for free. Are you looking to do something more complicated?

As far as scooping money from your account, why not simply set up a Tsumitate (Not NISA) with an index fund to complement your existing Tsumutate NISA?

All this can be done for FREE with a typical account.

.....

Seriously for 1% the better be planning your financial future from now until retirement and taking out your trash too.

[mighty58]

These micro-investment schemes seem pretty gimmicky and pointless to me. Maybe there's a segment of the population that needs extra help in saving/investing a 100 yen a day, or perhaps they find opening a securities account too much of a burden, but the very fact that you're on this forum would seem to indicate that you're likely capable of bypassing these gimmicky microtransactions and just invest normally. If it's budgetary discipline that's your concern, there's a simple solution to that, just pay yourself first. But at these sorts of small-dollar amounts, just invest the extra 10,000 or 20,000 yen up front and skip all the fees and hassles.

(apologies for not answering your specific question)

[captainspoke]

Tax management...

If you mean tax reporting and deduction of the proper amounts (without the acct owner having to do anything), then yes, that is common--almost the standard--for accts here.

If you mean tax loss harvesting, such as some automated foreign managed accts claim to offer, I think you have to calculate and do that on your own.

[FIRE-Rookie]

As far as tax- management, Japanese brokers do that for free. Are you looking to do something more complicated?

I was not aware of the free tax management. I thought this was an extra billable service in brokerage accounts.
I recall others complaining about THEO wasn't doing it which put a bit of more effort on the investor end.
Answering your question: Not really, just want to simply more and more so didn't want to deal with the hassle of taxes!

As far as scooping money from your account, why not simply set up a Tsumitate (Not NISA) with an index fund to complement your existing Tsumutate NISA?

Seriously for 1% the better be planning your financial future from now until retirement and taking out your trash too.

Master Kanto is bestowing the wisdom as always
I want to clarify that because of this awesome forum, I did establish my generic account on Rakuten and did buy some Index funds "outside of NISA" so this is covered by automated monthly transfers now.

Moving forward, I agree that 1% is a lot but to explain why I want to do Mametasu, I will explain a bit about my own psychology (at least I will attempt), I just like solid numbers. It just makes me more mentally sane
In fact, I am one of those people who hate the "rattle sound" of the 1 and 5 yen and I rather throw them away than to hear that god-forsaken sound. Same feeling happens when looking into my bank account. I rather have 10,000 yen instead of 10,078 yen.

What I am imagining Mametasu will do is that will round everything to solid numbers and withdraw the fractions.
E.g. 93 yen purchase becomes 100 yen (+7 yen) or 287 yen becomes 300 yen (+13 yen)

In the great scheme of things, if Mametasu withdraws 3000 or 4000 yen (in change) every month that I was not willing to invest anyway then they might be doing me a favor. Instead of spending that cash on something useless, then at least I might get some return on it.

Sorry if I don't sound logical, at least I tried.

[FIRE-Rookie]

These micro-investment schemes seem pretty gimmicky and pointless to me. Maybe there's a segment of the population that needs extra help in saving/investing a 100 yen a day, or perhaps they find opening a securities account too much of a burden, but the very fact that you're on this forum would seem to indicate that you're likely capable of bypassing these gimmicky microtransactions and just invest normally. If it's budgetary discipline that's your concern, there's a simple solution to that, just pay yourself first. But at these sorts of small-dollar amounts, just invest the extra 10,000 or 20,000 yen up front and skip all the fees and hassles.

(apologies for not answering your specific question)

I am not disagreeing with anything you mentioned. I am just trying to clarify if it is a minimum of of 10,000 yen or not? If it is 10,000 yen then it makes no sense at all as this is a large figure that I can transfer into my securities account on my own.

If it was more of micro-transactions like few yennies here and there then it might make it worthwhile for me as this is money that I was not planning to invest anyway.

[FIRE-Rookie]

If you mean tax loss harvesting, such as some automated foreign managed accts claim to offer, I think you have to calculate and do that on your own.

As per my understanding, they do that on your behalf (might be mistaken), this is why I am interested into other's opinions who might have done it before.