In Japan, where cherry blossoms dance in the spring breeze, Jose arrived from a distant land, full of new hopes, and embarked on his journey of work. His heart danced with the excitement of new experiences, and dreams for the future blossomed within him.
The first few years went smoothly. However, as time passed, the economic landscape in Japan began to change, becoming increasingly challenging. Due to the weakening yen, living expenses rose, and there was a need to reduce remittances to his family. On top of that, despite working for several years, his salary barely increased, remaining stagnant. In the era of ultra-low interest rates, the profits from savings were minimal, amplifying concerns about the future. With high prices and economic uncertainty, many people, including Jose, felt uneasy about their livelihoods.
Despite harboring worries about the future, Jose clung to hope and persevered in his life in Japan. One day, he decided to confide in his senior colleague, Sato, about his anxieties over lunch. “Sato-san, I’ve been feeling really anxious about my future lately. I can’t help but worry about what will happen if things continue like this,” he said.
Sato-san smiled kindly and said, “Jose, I understand how you feel. But don’t lose hope. Japan has systems in place to support your future. Consider utilizing schemes like NISA and iDeCo to prepare for what lies ahead.”
Sato-san elaborated on the differences between NISA and iDeCo, explaining their unique features. NISA, a tax-free system, allows one to invest in various financial products such as stocks and mutual funds, providing an opportunity to save for the future. On the other hand, iDeCo stands for Individual-type Defined Contribution Pension, offering the flexibility to choose the amount of pension benefits for the future and allowing adjustments to contribution amounts.
Empowered by Sato-san’s explanation, Jose made up his mind to utilize both NISA and iDeCo to secure his future. Starting with small contributions, he steadily built his savings, nurturing his hopes for the future. Sato-san’s kindness and knowledge brought hope and reassurance to Jose’s heart, fostering confidence in his new life in Japan.
You might be feeling uncertain about the future of your life in Japan as well.
Asset building can help alleviate some of those economic anxieties.
Let’s learn together about its importance and how to make the most of it!
