Help me, RetireJapan readers. You're my only hope.
A happy 'problem' to have today. Due to a fortunate series of events, it looks like I will have about a million extra yen this year. I'm wondering what I should do with it. Obviously if it were a million dollars, I would know exactly what to do.
I've already maxed out my NISA account for the year. I figure my main options are:
1. invest it in a taxable account
2. pay down my mortgage
3. buy a Honda RR600
Appealing though option 3 is, my wife would KILL me if the bike didn't, so I'm inclined to go with option 1 or option 2.
If I were to invest in a taxable account I would probably buy some index funds and dividend paying shares in my Rakuten Securities account.
One interesting alternative might be to open an Interactive Brokers account and start buying index funds in there for diversification/portability purposes (I could keep the account if we ended up leaving Japan in the future). I am probably overly concerned with the implausible scenario that we are forced to leave Japan at short notice for some reason.
I currently owe just over nine million yen on my mortgage, with about 28 years left to pay. I don't receive the tax break on mortgages as our manshon was over twenty-five years old when we bought it and I wasn't able to get certification for it. Our montly payment is under 30,000 yen. Current interest on the loan is floating at 0.5%.
I'll be honest and say I am not feeling super-excited about any of these options. Perhaps there is a better one? Please let me know in the comments.
What do you think? What would you do in my situation?