Retire in Japan? Obstacles and Advice on Healthcare, Pension, Investments. [Reupload]

[@Exjapter]

This video was re-uploaded due to an error in which 3 minutes were accidentally cut from the first version.

[@ogawasanjuro]

Good catch! And good video, too!

[@Exjapter]

​@@ogawasanjuro thank you!😊

[@VirtualHorizonz]

Thanks for the info guys...my wife and I are currently planning our retirement in Japan, hoping for 2027.

[@Exjapter]

Good luck!

[@VirtualHorizonz]

@@Exjapter Thanks!

[@cmtphysiques]

As someone recently retired in Japan this was helpful. Ben is a great resource and thanks for sharing him with your viewers.

[@Exjapter]

He is indeed. As mentioned, several people have inquired about retirement issues, so it made the most sense to bring in the expert!

[@RetireJapan_OG]

Thanks!

[@beatcomber]

As someone who is planning to retire and move with my Japanese wife from the US to Japan very soon, let me say thank you for this great video, Paul. I just got through listening to all of your podcasts, and in many ways, this video is an extension of those conversations. I really appreciate all that you are doing, your videos are incredibly beneficial (and downright interesting!) for someone like me who is preparing for the adjustments needed to transition into Japanese society.

[@Exjapter]

Thank you for the comment. And the reminder, I need to get back to those podcasts at some point (I keep forgetting to even link them in my new videos...) Life is really busy, if I had to predict when I will next release a podcast I'd say sometime in the Spring. But don't worry, my YT will continue every week!

[@Cunningstunts23]

I always half-jokingly tell my friends that I’m going to buy a country side property in Japan and retire there but never gave any thought to how such a goal would work. Interesting video thank you both!

[@Exjapter]

It's not impossible!

[@WorldsEliteDeatHaze]

Fantastic video, thanks to both of you!! Very informative and no BS, cheers

[@Exjapter]

Thank you for the comment!

[@wajisin]

Thank you so much for sharing your conversation. I'm off to visit the tax office later this month, and ask about declaring my foreign annual income. It's comforting to hear that Ben had a rewarding experience. Here's hoping Yokohama is as kind.

[@Exjapter]

Good luck!

[@roymcbroom8647]

Thank you for this Paul. Very informative. I'm an American and my wife is Japanese. We are planning to retire to Japan in 2026. Keep the videos coming.

[@Exjapter]

Thank you for the comment. I highly recommend you follow Ben's channel as well!

[@Mit0ch0dria]

Great discussion with Ben! Appreciate your videos Paul, keep up the great work.

[@Exjapter]

Thank you for the comment, I appreciate it!

[@Mark-fs7ok]

Great video - Thanks! I lived in Japan from 1983 to 2012, went back to the US for 11 years and retired, and moved back to Japan (Osaka) last year. My Japanese spouse and I much prefer living here. Groceries cost more, but rent is cheaper, healthcare is cheaper, lunch at a restaurant is $10... But I agree that moving here to retire is not a good idea for most people. Just took a vacation in Okinawa and had a great time. Agree there's no need to go to increasingly expensive Thailand. I use Wise to send money from the US to Japan monthly. The fees are low and the exchange rate is good.

[@Exjapter]

Thank you for the detailed comment! Much appreciated and helpful for others.

[@prieten49]

The inheritance tax is what got me. When my Dad died and left some money to me and my two sisters, they had a good laugh at my expense because Japan demanded a share of my inheritance. My sisters had no inheritance taxes in the USA. I had to fork over 10% to Japan because I live here. The tax office people in Japan are very nice and I go to them every year so they can input my numbers into their online system which unfortunately is not available in English. Besides filing a tax return in Japan, I have to file an annual report of my worldwide assets similar to the FBAR report that the USA requires of those with overseas assets. As a US citizen I have to file a tax return in the USA and the FBAR report. But at least getting all these tax returns and reports in order is something to do during the long Hokkaido winters! Another issue is the exit tax that Japan will hit me up for if I ever decide to leave Japan. It is about 15% of the increase in one's assets that occurred while one lived in Japan.

[@Exjapter]

Love filing the FBAR and tax return...Easily the number one or two reason to consider changing citizenship.

[@RetireJapan_OG]

The exit tax is a bit more nuanced. You'll be expected to pay capital gains tax on any assets you have invested in the stock market or similar as if you had sold them if you have more than 100m yen's worth. If you are just over, you could presumably sell enough to get under 100m and then avoid paying exit tax. If you are way over, you can probably afford the hit 😉

[@prieten49]

@@RetireJapan_OG Thank you for that explanation. Yes, I whined a lot when I had to pay that inheritance tax but I still got to keep 90% of it. It will be the same story with the Exit Tax if I ever leave Japan.

[@murray.altheim]

I may have been one of the people Paul was referring to in his mention of previous comments on this channel. Apologies for the length; I feel some context may help explain my question better... perhaps other people may learn something from our exchange. I'm feel like I'm perfectly comfortable living in Japan, having traveled there five times until I lived in Yokohama and Tokyo for about 15 months. I'm a 63 year old Canadian and am unlikely to be able gain employment in Japan as I'm too old for most jobs and am not fluent in Japanese. I certainly understand the need to be able to speak the language, it's very difficult without. I think over time I'd pick it up but I don't know if I'd ever be fluent. In terms of the culture, I feel very happy when I'm there, like I'm at home. I'd probably join a local shrine. The reason I was living in Japan was that my wife had undergone medical treatments here in New Zealand and then went home to Yokohama to seek further treatment. I followed her back and we lived with her mother until unfortunately she lost her battle with cancer. So I do have experience spending a lot of time in Japanese clinics and hospitals and have some understanding of the medical system, had my own health card, and with some help even dealt with the Shiyakusho gaining a Koseki Tohon and registering to live there. And then eventually trying and failing to rent an apartment. I was finally forced to leave as my visa was based on my marriage. I now have a Japanese girlfriend who lives in Tokyo and would like to get married - hence my question about options on living in Japan. I know that should I leave New Zealand I may receive a reduced pension, and that I don't expect to gain a Japanese pension. She retires next year so she has issues (like pension) should she move to New Zealand. My concern (hopefully understandable given my history) is that if I were to rent out my NZ house, move to Japan, get married and end up outliving my wife I could find myself elderly and uncertain about being able to remain in the country, both in terms of visa and simply day-to-day living. I'm not certain of my options on staying should that occur. My sincere thanks to both Paul and Ben. I'd found Ben's website a few weeks ago so had to smile a bit when I found this video. I'll be back in Japan in December for 87 days, very much looking forward to being there again.

[@Exjapter]

I am sorry to hear about your wife and the struggles you underwent not only with that but with being unable to stay in Japan due to the visa issue. I can't remember exactly who brought up this topic/these questions, because it was a number of people, but it's probably you were one of them. Your concerns are certainly valid. You can qualify for permanent residency after 3 years of marriage and 1 year of Japan residency. Once you have PR, you are not tied to a spousal visa any more. Also, at some point you would need to figure out the tax liability for renting out your NZ house. I know foreigners who have skirted around reporting foreign income...but I would not advise it. (Son of a CPA here. Ben paints a friendly picture of the Japan tax authorities, but I can't really shake the fear of god my father put into me over the IRS...)

[@murray.altheim]

​@@Exjapter Thank you - it's not something I would normally talk about but I thought it a topic others may likewise be concerned about. I'll clearly need to figure out the financial issues surrounding rental income should I decide to live in Japan. It's not my nature to cheat, and it would seem really foolish to do so in a country when one's ability to remain may be predicated on staying out of trouble. And likewise, thank you for the information about permanent residency. This may sound somewhat modest but my dream is to live in Itō, Shizuoka. But life being as unpredictable as it is who knows where I'll end up?

[@RetireJapan_OG]

@@murray.altheim You can become a permanent resident after having a spouse visa. That would be the key.

[@gruu]

This was amazing, great info 😮

[@Exjapter]

Glad it was useful!

[@Mwoods2272]

The one big hurdle is the residency situation, you can always learn the language and culture but you need to be able to stay in Japan. I read so many comments of people saying they are going to move to Japan as if it was as simple as moving boxes. You rarely see a person with a PR that isn't married to a Japanese national or have Japanese family background.

[@Exjapter]

There is the culture visa another commenter mentioned, but that's a long road to PR.

[@ZanicaKnight]

28:46 Holy cow I’ll make sure to strategically *not* pay my taxes on time and manufacture this moment the day after I was supposed to pay

[@Exjapter]

Lol, I had the same thought. I need to go to the tax office more often. 😂

[@ZanicaKnight]

@ 正直、俺の意見はwherever you move to, make friends with your local police, the people at the clinic you’d go to for check ups, and the old ladies of your community if it’s a small community. That’s my plan and I’m sticking to it

[@ImRezaF]

Huh, the healthcare part is rather interesting. The other guy mentioned that JP healthcare is relatively great because you can turn up to a clinic, without appointment, and maybe only wait 1 or 2 hours to get treatment. Is that not the norm with a lot of countries ? I came from Indonesia and this morning i came to a hospital near my house to get my teeth cavities filled. Didn't had any appointment but i finished within less than 1.5 hours i would say (though i do admit i used private insurance so is that maybe the case ?).

[@Exjapter]

Thats a good question - where is that not the norm?

[@karlahlgren1052]

I lived in Japan For 5 years long ago. I married a Japanese citizen and our first child was born there. We have been married, living in America for many years. I would potentially like to retire in Japan, but my wife will not return. I wonder whether I can get a visa…spouse visa like I used to have? If my wife is not with me🧐

[@Exjapter]

If you are no longer with your spouse, you would need to get a different visa. If you mean "if she doesn't come to Japan with me but we're still married" you could get the visa, if she's vouching for you.

[@karlahlgren1052]

@@ExjapterThat’s what I’ve been hoping for. Thanks for the info!

[@JGerman68]

Please never use a camera mic for your audio. Hearing your voice clearly is essential. Thanks for the video.