Is monthly purchase mandatory in tsumitate part of NISA?

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RetireJapan
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Re: Is monthly purchase mandatory in tsumitate part of NISA?

Post by RetireJapan »

styxomaniac wrote: Wed Apr 17, 2024 12:16 pm
RetireJapan wrote: Wed Apr 17, 2024 7:57 am
styxomaniac wrote: Wed Apr 17, 2024 7:26 am
On SBI, I managed to cancel/delete my monthly order in eMaxis Slim All Country on Tsumitate NISA for April since it exceeded my target allocations. Does this mean I will receive a notification next month reminding me to make a contribution?
No, there is no obligation/expectation to make any NISA purchase. If you don't have a monthly allocation set up you will need to remember to do that yourself.
If that is the case, then a monthly order is not mandatory, as you said.
If you want to use tsumitate NISA you need to set up a monthly order. But using it is not compulsory ;)
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ChapInTokyo
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Re: Is monthly purchase mandatory in tsumitate part of NISA?

Post by ChapInTokyo »

I see. It’s the Tatemae and Honne thing. You need to set up a tsumitate but there are ways to get around it if that is what you want?
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adamu
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Re: Is monthly purchase mandatory in tsumitate part of NISA?

Post by adamu »

The only way to buy funds in the Tsumitate portion is by placing a recurring order. Even bonus payments require the recurring order to be in place.

You don't have to place a recurring order, but then you won't be able to use the Tsumitate portion.
banders
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Re: Is monthly purchase mandatory in tsumitate part of NISA?

Post by banders »

Further to this:

SBI tsumitate amounts and dates can be changed as often as you wish, but It is not possible to set the tsumitate amount at above ¥100k (1/12th of the annual limit). At least that was my experience last month. However, I have already missed some payments (deliberately because of putting my money elsewhere). So say - random figures - I have paid ¥600k by the end of September. Will I be able to pay ¥200k pm until December? Or only be able to pay ¥100k in October/November then ¥400k in December?

I know this is the first year, but wonder if anyone's read anything?
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