Search results

@norburn Aeon Bank was the most supportive of me as a foreigner, and they do a thing where you get an integrated credit card with your cash card if you pass their credit checks, or an integrated debit card if not. (Also does Waon and points). I don't know if they can deal with working holiday...

@zeckycarter16 Well sure, but you'd hope a business is selling products for more than the cost of the materials. So they should come out ahead on net.

@pejak The BoJ will aim for a stable 2% inflation rate, like many central banks. Differences between countries are caused by underlying differences, a) growth in the real economy b) how much debt governments are taking on. The cheaper the yen gets the better Japanese industries should perform...

@lishacccc If the result is that e.g. food prices are allowed to be extremely unstable then perhaps this is a poor choice of interpretation that should be reconsidered.

@duba I can get with choosing a less financially effective approach out of spite, but if you cancel then you're paying them the fees, so it sounds like they win either way. (Indeed given that the cancellation fees are riskless income for them, cancelling probably helps rather than hurts them)

@duba Forget the sunk costs, look at what your outcomes are now. Take a guess at how much return you'd get from reinvesting that money in a better way, run the numbers, calculate whether you end up with more that way than waiting out the surrender fees. Most likely you're better off pulling it...

@revstockton Good point. I wasn't really thinking through that part at all, just dismissing it because it's not an option for OP anyway.

@andy44 This is work, you would need permission, and immigration will usually decide whether to grant that permission by asking your main employer whether it's going to interfere with your job. In Japan it's taxable income (there's some possibility to avoid taxes if you've been in Japan less...

@mika145 And if it loosens or stays the same then the yen will weaken further. Anything that's publicly known is already priced in, so unless you have an inside track on what the decision will be (and if you do, you could make a lot more money betting on that more directly), there's no way to...

@halleluyah I wouldn't want to be keeping that much in cash in the first place. So while I do have several bank accounts, more by accident than design, most of my remaining cash goes into the ETF-like investments (in boring taxable form).

@pam5 I mean you can price anything in USD if you want to. But that's not necessarily any more or less reflective than pricing then in any other currency. The "all country" funds will generally own shares that are "natively" priced in all sorts of currencies (admittedly USD will be the single...

@pam5 Depends if you think the exchange rate is out of whack because USD is overvalued or because JPY is undervalued. What matters is whether the price of the brick in JPY is good or bad; the price of the brick in USD isn't necessarily the "true" or "fair" price any more than the price in JPY is...

@pam5 You shouldn't worry about what currency shares are denominated in, any more than you worry what currency, IDK, bricks are denominated in. If you buy a brick for 147JPY or you buy a brick for $1, it's the same brick, and when you come to sell the brick the price you get for it will be only...

@pam5 At most your money might pass through USD briefly on its way to becoming company shares. Of course shares in US companies (and even some non-US companies) have a value that's somewhat correlated with the USD. If the exchange rate continues the way it's been going then it will enhance...

@preciousklay If all the banks are much of a muchness, you might benefit by picking one whose ecosystem you're in. Sometimes you get e.g. status, a better savings rate etc., if you have a mortgage with the bank.

@l2e No, the income is taxable as income at its value in yen when it's accrued (or when it's received, since sole proprietors are allowed to use cash basis) and then whenever you convert foreign currency to yen the gain or loss from that is taxable (even if you're not operating a business...

@jesusluvr12345 I mean, if you're sure all your future expenses will be JPY then there's an argument for either hedging or finding JPY-denominated investments. But IME the costs of those outweigh the benefits. Having to take currency risk on your investments sucks (and make no mistake, it's a...

@mototothemax Guess it depends what their rules for Vietnamese residents are and how fast OP can do the procedures.

@jesusluvr12345 Investing consistently and ignoring currency fluctuations is definitely right IMO. No one knows which way the currency may move when. And yeah low fee index-like funds are the way to go. Unless you're good enough to pick stocks as a full time job, it's not worth picking...

@lavenda I suspect you'll end up paying more fees / getting worse exchange rates that way. (Also I assume you mean "business income" not "salary" - likely a language issue but be careful not to imply that you're an employee of your foreign clients, that would put you and them under a rather...