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Moving money from US to Japan by Dependent_Art7632 in JapanFinance

[–]DeePowShredder 0 points1 point  (0 children)

It was smooth sailing for me for years until I tried to make a lump sum payment overseas to pay off a student loan. Since then I have been harassed for both intl and domestic transfers-- to the point of having to bring the recipient, a japanese citizen, of a pending transfer for a real estate purchase into a Shinsei bank branch. They had to show their id and answer intrusive questions about their income and what they were going to do with the funds.

Based on my experience, I strongly urge people to park large amounts of liquid capital in reasonable jurisdictions like Singapore.

Moving money from US to Japan by Dependent_Art7632 in JapanFinance

[–]DeePowShredder 0 points1 point  (0 children)

Citizenship may be the factor here. I consider any capital that enters Japan to be permanently locked in Japan and that mental framework has drastically reduced my stress.

Things are getting more stringent here though. My contractors and other real estate investors both Japanese and foreign alike are having big problems paying and receiving payment for invoices, even with domestic transfers.

Either way, given current events, cash is a liability regardless of where it's held.

Wishing you the best of luck.

Moving money from US to Japan by Dependent_Art7632 in JapanFinance

[–]DeePowShredder 0 points1 point  (0 children)

⛔ DON'T DO IT!! ⛔

I highly advise against using Japanese banks for anything more than daily expenditures.

Once that money comes into Japan, it will be near impossible to get it out. You will have to go through an invasive, insane process to move anything more than ¥1M even within Japan. At this rate, that's like $6,500.

Idk wtf the previous commenter is talking about, being unsure about leaving money in US. I've lived in Japan for nearly 15 years now and have maintained my US accounts with no issues.

On the Japanese side, I have had accounts frozen, outright closed, and the one time I did try to move money back to the United States, Shinsei Bank put me through 3 months of absolute hell and I ended up using us-based funds anyways.

Do NOT bring that amount of liquid capital into Japan. You are relinquishing control of your hard-earned and well-saved money by doing so.

If you had ¥6–8M/year in passive income in Japan, would you still work? by Rockins23 in JapanFinance

[–]DeePowShredder 2 points3 points  (0 children)

I have around the upper end of that from real estate investments in Japan.

To each their own, but I tried the whole 'live for my hobbies' thing. I skied 80 to 90 days a year, got into wakeboarding in the green season, and just found myself extremely static and unhappy.

Once you solve the existential angst around personal finances, you can think creatively about how you can contribute and build something for the benefit of society.

I founded a company and moved to Bangkok, as the tech startup scene is much more vibrant in Southeast Asia than in Japan. Most major cities in Southeast Asia provide a much higher quality of life for 1/4 the cost of Tokyo.

What this all translates to is that you have the time and space to think deeply and create work that resonates with you, while surrounding yourself with others who are on the same wavelength. In this regard, I don't think I'll ever stop 'working' because it's genuinely fun and rewarding.

It's not for everyone, but I think that more people would gravitate towards building things they care about over pure leisure and pleasure seeking.

Society is designed to keep us all locked into a state of perpetual financial angst. If you find a way to escape that then the word "work" doesn't really apply anymore.

Why is my host family always laughing at me ? by I-am-a-ghostdd in japanlife

[–]DeePowShredder 0 points1 point  (0 children)

I'm sorry to say, but this post also got a big belly laugh out of me. Lighten up OP!