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The story
Data showing that the usage rate for Japan’s new NISA tax-free investment program remains stuck at just 16.8% became a hot topic on 5ch. The thread opened with another figure: against Japan’s population of 106.5 million adults aged 18 and over, the NISA account-opening rate (including accounts with no money invested) stands at 26.5%, suggesting a good number of people opened accounts but never actually started investing. Posters clashed over whether to go all-cash in anticipation of a stock market crash, with some dismissing that view as “the same old prediction people have been making for years.” A recurring back-and-forth also broke out between those arguing “money doesn’t do you any good in old age, spend it while you’re young” and those countering “it’s precisely in old age that having no money is miserable” — neither side managed to settle the debate.
What people said
18-and-over population: 106.5 million
NISA account-opening rate (opened but not yet invested): 26.5%
Just don't put in an amount close to your entire net worth. Factor in the chance of a huge crash that never recovers by raising your ratio of cash and government bonds, but also keep doing NISA in case the crash never comes
If that happens, Japan and the yen are done for too, you know
Nvidia and Kioxia used to skyrocket after earnings, but now their stock prices are sluggish
You can hear the AI bubble starting to burst
The weak yen has also peaked here — both Japan and the US will act to stop it going weaker
Things stay as-is for now, then it swings toward a stronger yen once the government changes
People who are investing are just going to watch their assets shrink
In the end, the only future is total victory for Team Cash
The yen's value erodes a bit more every year — you sure that's fine?
People have been saying that same thing for over 30 years
"Pundits" = amateur horse-racing tipsters
Better to spend money while you're young
No point holding onto cash once you're an old geezer
Even saying "while you're young," you should still have money left for investing after having a decent amount of fun
Are you really so broke you've got nothing left to invest?
Do people who say this even have savings?
You can't buy anything with that attitude
Realistically this isn't even some far-off thing — in just the 2 years and 8 months since new NISA started, investors' assets have already grown massively, and the gap just keeps widening
Having no money once you're an old man is miserable though
You've all been doing this since 2024 too, right?
Chicken me was doing this since the old NISA, but got scared and only put in a small amount, so naturally I lost 😢
Well, guess I can think of it as getting 40,000 yen for free…
So lame lol
It's more than doubled and you're still complaining lmao
Once NISA gave me a taste of stocks, I completely lost all restraint
It's precisely in old age that having no money is miserable
Besides, investing in yourself doesn't have to cost much anyway
Reading barely costs anything with a library or secondhand books, and you can learn PC skills or a language for free on YouTube
Certifications and studying really do have insane cost-performance
Buy about 20,000 yen worth of textbooks and it'll eat up more of your time than any hobby
People who tell you to "spend money investing in yourself" are usually just trying to funnel you into a seminar
I built this portfolio with my own holding power (nerve not to panic-sell) in mind
Buying bonds normally is one thing, but there's no point buying them inside NISA
Bonds have small unrealized gains, so you barely get to use the tax-free benefit, don't you think?
Don't know your total assets, but the late Yamagen (a well-known Japanese investing commentator) used to say you only need to mix in bonds once you're past 100 million yen
Wow, it's crap because you keep dabbling in individual stocks here and there
Which one's actually right?
But having it beats not having it by a mile
Not having to worry about money takes a huge weight off mentally too
I honestly can't picture a scenario where having no money actually works out better for you
If it were guaranteed to keep growing, fine, but there's obviously also a chance you just get older without it growing, or it even shrinks
The question is whether you'd be okay with that when it happens
Is putting in a few tens of thousands of yen every month the normal default?
I only dump in 500,000 yen when I get my bonus
Whether you keep buying a bit over 40,000 yen every month or dump in 500,000 yen at one specific point, it barely makes a difference either way, so you're fine
Brokerages give a few percent in point rewards if you set up monthly credit-card investing up to 100,000 yen, so a lot of people match their contributions to that
Over the long run it doesn't make much difference
What are you even going to do with it once you're frail and feeble?
No matter how much money you have, if you've lost your drive, you'll just die having barely spent any of it
It's precisely because you're frail that you need money
Having money lets you extend your healthy lifespan too
No money is miserable
Just build up your assets and spend them before you get frail
And if you're already frail and still have to keep working, that's the truly miserable outcome
You guys: "Didn't do a thing and my returns just added a million yen this month, fun lol"
I can never catch up in my lifetime
Sorry about that
That's not a good thing, you know
Background and Key Points of This Topic
The new NISA is a program launched in 2024 that expanded Japan’s tax-free investment allowance, but the “account-opening rate” (simply having an account) and the “usage rate” (actually putting in money and investing) are two different figures. The 26.5% figure mentioned at the start of the thread appears to be the account-opening rate, while the article’s headline figure of 16.8% is thought to refer to the smaller share of people who are actually continuing to invest — readers can easily be misled if these two numbers get conflated. The thread split over two opposing views: “there’s no point having assets in old age, you should spend while you’re young” versus “it’s precisely in old age that having no assets is miserable,” with both sides drawing significant support and no clear consensus emerging. It’s also worth noting that, since new NISA has been running for less than three years, the anecdotes shared about rising or falling asset values don’t guarantee long-term investment performance.
*This article is compiled as an excerpt and summary of the 5ch (Nandemo Jikkyo G) thread “[Bad News] NISA Usage Rate Still Stuck at 16.8%.”
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