iDeCo accounts were created by the government to make saving and investing for retirement easy. They can also reduce your taxes!
You decide a monthly amount to pay in (from 5,000 yen) and your money is invested into mutual funds you choose. The money grows tax-free until you are 60 years old, at which point you can choose to receive a lump sum, a monthly pension, or a combination of the two.
This is a comprehensive guide to Japan's iDeCo Accounts in PDF format. What they are, what they are for, who should open one and who shouldn't, how to choose a provider, what investments to make and how to manage the account for retirement.
Includes a step-by-step guide to help anyone successfully open and set up their account.
Anyone who buys a RetireJapan Guide will automatically have access to free copies of subsequent updates and editions.
RetireJapan is the best (and only?) English-language personal finance website for residents of Japan and this is one of a range of personal finance guides.
*If you are comfortable reading in Japanese, I recommend you pick up Minako Takekawa's book on iDeCo instead.
**If you are a US citizen under the age of 50, iDeCo may not be a good fit for you. Please see the RetireJapan website for details.
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