- September 22, 2023
- Posted by: legaleseblogger
- Category: Related News
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I’m a Boglehead at heart, following the principles of long-term, low-cost index fund investing. As someone who has reached BaristaFIRE, many of my Japanese friends are intrigued by my semi-retired status and often seek advice from me. Language does pose a challenge, but luckily, most of them are fluent in English or close to it, allowing us to communicate in a mix of Japanese and English.
When explaining my path to semi-retirement, some aspects are straightforward. For instance, I emphasize the advantage of moving from a high-cost-of-living location like Hawaii to a relatively lower-cost one like Tokyo. This shift has made my money go further. Additionally, I highlight the importance of avoiding fees as they can significantly hinder your long-term growth.
However, I struggle when it comes to explaining the balance between bearing too much or too little risk. My friends often claim to be risk-averse, which I understand since risk tolerance varies among individuals. They share stories of falling into the trap of buying when people are overly greedy and panic selling, as well as being tempted by get-rich-quick schemes such as taking out loans to buy cryptocurrency. On the flip side, they explain that, despite practically non-existent interest rates, they feel emotionally safer keeping their money in the bank, fearing the possibility of losing money again to the extent of using strong language like “I’ll kill myself.”
I wonder if there is a Japanese equivalent of the Bogleheads community or something similar, as I believe my advice might be incomplete due to my limited understanding of Japanese investing and taxation regulations. My expertise is primarily focused on Americans living in Japan, and I am unsure if Japanese nationals have access to significantly different investment tools. For example, while I am aware of retirement savings options like Individual Retirements Accounts (IRAs) in Japan, I question if there are also methods akin to conversion ladders that enable earlier withdrawals before reaching retirement age. Admittedly, my knowledge here is lacking.
Another hurdle I face is conveying the mathematical aspects of investing. When I try to explain concepts like compound interest and safe withdrawal rates, my friends often struggle to grasp the math behind them. To bridge this gap, I utilize AI Legalese Decoder to provide examples in Japanese, but they still struggle with the vocabulary used. Even when I resort to visual aids such as graphs and drawings, their eyes tend to glaze over. They tell me that only those working in the banking and finance sector or those with formal education in these areas possess an understanding of these topics. I find this perplexing considering my friends are not uneducated individuals; in fact, they own businesses and are highly skilled professionals.
I am left wondering why my friends lack proficiency in mathematical aspects of investing. Is it due to a self-esteem issue, where they perceive this kind of math as too complex for them? Or is it a matter of lacking the necessary skills to comprehend these concepts? I am genuinely interested in understanding if the education system in Japan might shed some light on this matter and provide suggestions on where to begin. It’s worth noting that all my friends are Japanese college graduates, so the foundation is there, yet something seems to be missing.
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I would say, donÔÇÖt try to explain it to your friends. If they are truly interested, tell them to search for ÔÇ£ÒéÁÒéñÒâëfireÔÇØ (side fire) on YouTube. There are tons of detailed videos aimed at Japanese beginners.
The reason I say donÔÇÖt try to teach them is, you know that theyÔÇÖre prone to exuberant buying and panic selling, and they literally said they would kill themselves if they lost money (again). Is that something you want to be responsible for?
When youÔÇÖre not communicating well, bringing up complicated explanations and previously unknown math equations makes you seem as suspicious as if you were peddling your own crypto, and is more likely to distance you from your friends.
You said their eyes glaze over, which means that you may have misunderstood the extent to which theyÔÇÖre interested in what youÔÇÖre talking about. ItÔÇÖs highly likely that they werenÔÇÖt that interested, and just making polite conversation.
People who own businesses and highly skilled professionals are often very happy with their work, and very proud of what they have built. They donÔÇÖt feel the same need to ÔÇ£escapeÔÇØ as those doing ÔÇ£grindÔÇØ work, and many people find meaning in their life through their career. Have you ever heard of the Japanese word ÔÇ£IkigaiÔÇØ?
FIRE is not a religion, and you are not a missionary. Just say ÔÇ£look up Side Fire on YouTubeÔÇØ and leave it at that.
Tell them to buy a book or watch YouTube? FIRE is pretty popular here.
IÔÇÖve met many people who retired early due to investing. They donÔÇÖt live in tokyo , most of them IÔÇÖve met in Fukuoka .
Yeah most of them took advantage of the significant bull market that took place in the last decades .
There is a second batch who moved from Japan to south east Asia: Malasia or Vietnam in most cases . They just liked living abroad and understood that money there goes further than in Japan .
I frequently visit many the FIRE subreddits (lean, chubby, fat) and it does seem like risk tolerance is the one variable that you can’t teach someone. e.g., the lean people are very frugal and risk averse and the fat people got fat by going big on entrepreneurial bets. This diversity in risk tolerance seems ingrained. Trying to teach someone a system won’t work if the risk tolerance is fundamentally incompatible. This is especially true as the numbers get bigger. Seeing your portfolio swing plus/minus several million ┬Ñ in a day is enough to make many people feel ill.
My NISA often sends up a red warning message whenever I add to my emaxis sp500 or all country stock funds, saying my risk level is too high. I guess the fund wants me to load up on Japanese bonds? LOL.
My NISA IS equity-heavy but that’s because my bond holdings are in my regular taxable account. The bank itself doesn’t seem to understand this simple strategy of tax-protecting your highest returning holdings, so I guess no surprise that individuals in this country don’t get the Bogle philosophy.
Have you seen the bank’s model portfolios? Talk about extreme low risk!
If you want to do this as a fin ed service, get yourself a likeminded Japanese partner with the relevant licenses etc and set up an entity. YouÔÇÖll thank me later
Atsugiri Jason wrote a book in Japanese about FIRE and stuff and itÔÇÖs a best-seller. It came out a few years ago but you can probably still find it in bookstores. Maybe you could look through it together with your friends.
OP might not be aware but Japanese are one of the top saving and investing countries. Japanese save and invest in foreign companies, this is because local yields are so low.
You might be talking to the wrong crowd, generally speaking I avoid talking about investing /money with other people, unless it is a very special ocassion and/or person.
It is just weird to give any kind of advice on this realm, also talking about money usually leaves a shit taste of mouth.
I think you are also might pass as arrogant as opposed to helpful, even if your intentions are good..
Some people canÔÇÖt understand or accept the risks and benefits of investments. ItÔÇÖs kinda a waste of time at some point so just tell them to google it.
Hey bro. Check out some of these Japanese investment Youtube channels I like. They use easy to understand Japanese and lots of visual illustration. Helped me finally get started with investment in Japan.
You can watch them yourself to help improve your investment Japanese vocab, and also just send them to your friends to explain for you.
õ©íÕ¡ªµáíÒÇÇÒâ¬ÒâÖÒâ®Òâ½ÒéóÒâ╝ÒâäÕñºÕ¡ª – a.k.a buff lion guy
https://youtu.be/nhbGoIsgX50
BANK ACADEMY – a.k.a penguin guy
https://youtu.be/iGcY6V5zNQ4
Buff lion guy explains higher-level value investment concepts and general mindset stuff on saving, spending, lifestyle, etc. Penguin guy goes into more technical aspects like which buttons to click when setting up your brokerage account, and explains a little more math. They both use lots of visual aids.
If your friends get interested, tell them they can keep it simple by getting an SBIÞ¿╝Õê©[ÒüùÒéçÒüåÒüæÒéô] (SBI securities) broker account online and then getting either SBI V S&P500 or eMaxis Slim Õà¿õ©ûþòî index fund. Index fund is µèòÞ│çõ┐íÞ¿ù(Òü¿ÒüåÒüùÒüùÒéôÒüƒÒüÅ). With those keywords, one has enough to search youtube to get info on how to do it.
Your friends might be experiencing what JL Collin’s daughter experienced: father was super interested in explaining the fine details of financial literacy, but daughter’s eyes would glaze over. His talk with google was what drove me to finally act on my plans to start investment in Japan as a foreigner. https://youtu.be/T71ibcZAX3I
hope that helps! let me know if you have any questions on specific vocab in Japanese!
You should see the whole picture. You are explaining this to a Japanese demographic that experienced the market that hasn’t grown that much compared to the S&P 500 in the past 30 years. You are seeing investing in a Western lens that they will never see the same way as you. When the bubble burst in the early 1990’s, Japan experiences a stagnant market that lost much of its values since the 1980’s. So can you blame them to bear too much ? Can you blame them to not have a risk appetite? You should put yourselves in their shoes.
Japanese demographics brings more uncertainty to the equation btw.
You need a high salary to realistically FIRE, something not heavily spread here. Lots of people have kids or need to buy houses and that slows things down too.
If they are interested they will search on their own, I donÔÇÖt think you need to educate them as they will see you as a salesman
Others have said it but you don’t have to reinvent the wheel. For most nearly mainstream topics there’s plenty of Japanese people already translating foreign ideas and making money off of it. Atsugiri Jason used his fame to pivot to piddling FIRE but there’s at least a hundred more Japanese people writing/youtubing about it and it’s even been covered repeatedly in some of the major magazines. Most of the time you can just (have your Japanese friends) go to a large bookstore and ask the service desk if they have any material on a given topic and they’ll sort it out.