>Put a walk-in humidor in that motherfucker and you can count me in you magnificent bastard.
>
>Oh, and I got dibs on the first and third Fridays and Saturdays of every month.
—*message sent to moderators regarding the* [*r/JapanFinance Apartment Project*](https://www.reddit.com/r/JapanFinance/comments/127zbk5/help_take_this_subreddit_to_the_next_level/)*, April 1, 2023.*
***
Even before 税 was revealed as Japan’s kanji of the year, it was clear that 2023 had been a huge year for r/JapanFinance. To go from 0 to 5,000 subscribers in 2021 felt like a significant achievement, and when that number rose to 12,000 by the end of 2022, we knew that the sub had established itself as a genuinely vibrant, self-sustaining community. But to reach **60,000** subscribers by the end of 2023 was wholly unforeseen.
The increase in subscriber numbers, unique visitors, and pageviews through 2023 was kind of ridiculous tbh. By the last quarter of 2023, the sub was serving almost 600,000 pageviews per month to over 90,000 unique visitors. And this was after Reddit management had severely undermined the platform by drastically increasing API access fees.
Credit for this rapid growth must go primarily to you, the users, and especially to those of you who consistently make interesting and informative contributions. We extend our sincere thanks to all of you, and we hope that this report will go some way towards acknowledging and highlighting the many valuable contributions you made during 2023.
### Most Popular Posts
u/Bob_the_blacksmith welcomed the sub to 2023 by asking everyone to share [the “weird ways Japanese people manage their money”](https://www.reddit.com/r/JapanFinance/comments/1022e2u/weird_ways_japanese_people_manage_their_money/). Among tales of loss-averse investors somehow preferring FX to stocks, there were the usual comments about excessive levels of insurance. But no one anticipated the level of insurance revealed by [this extreme example](https://www.reddit.com/r/JapanFinance/comments/16c1zb6/insane_japanese_budgeting/) shared by u/Bob_the_blacksmith later in the year.
The most popular post in January was about [whether 2,000 yen notes are actually rare](https://www.reddit.com/r/JapanFinance/comments/10ghsez/many_people_tell_me_2000_yen_notes_arent_that/) (spoiler: they are). That post was made by u/franckJPLF, who had introduced themselves to the sub eight days earlier with a question about [whether there is a way to use 13 million yen to generate 3,000 yen per day](https://www.reddit.com/r/JapanFinance/comments/109ynfr/excuse_the_naivety_of_my_question_but_are_there/), and who would go on to make 26 more posts during 2023, including a memorable one in July regarding [Japanese péniches](https://www.reddit.com/r/JapanFinance/comments/157ecbt/not_that_i_am_particularly_interested_in_doing/).
With the tax return filing season in full swing, February is always a busy time for the sub. But daily traffic more than doubled on February 21, 2023, when u/kextatic [posted a copy of their tax return](https://www.reddit.com/r/JapanFinance/comments/117w68d/actual_tax_on_100m_income/) showing a salary of just under 100 million yen. And it was pleasing to see that most replies to the post were more than just expressions of envy or marriage proposals. There was plenty of sensible discussion about how much OP could donate via furusato nozei, and what OP might do to reduce their tax liability in future.
**Salaries** were an unusually popular topic throughout 2023, with users wondering [whether it’s possible to be paid 30 million yen as an individual contributor](https://www.reddit.com/r/JapanFinance/comments/111vgbb/looking_for_30m_ic_job_in_japan_does_it_exist/) (spoiler: it is, but it’s rare), [whether OP should move to Japan for a 10 million yen salary in the semiconductor industry](https://www.reddit.com/r/JapanFinance/comments/13nrekz/thoughts_on_a_10m_salary_in_semicon_in_nagoya/) (update: OP did end up moving to Japan and is very grateful for the advice they received), [why Japanese salaries are so low](https://www.reddit.com/r/JapanFinance/comments/11ug1bi/why_are_japanese_people_so_underpaid/) (spoiler: employee loyalty), [whether 4-5 million yen is a good salary in Tokyo](https://www.reddit.com/r/JapanFinance/comments/16ambal/is_45_million_yen_a_good_salary_in_tokyo/) (spoiler: OP was asking the wrong question), and [whether there are “unspoken laws” requiring annual salary increases of 5-10%](https://www.reddit.com/r/JapanFinance/comments/18orfvh/yearly_pay_increase_too_low/) (spoiler: there aren’t).
Perhaps the most important post about salaries, though, was [this thread](https://www.reddit.com/r/JapanFinance/comments/16t35uq/av_star_salary/) from September about how much AV stars are paid. It’s nice when a post gives users a chance to share specialized knowledge based on years of *intense* research.
Another big topic throughout the year was **housing and real estate**. Back in March, u/poop_in_my_ramen (complaint or imperative?) shed a whole bunch of light on [the experience of hiring a building inspector](https://www.reddit.com/r/JapanFinance/comments/1269xra/home_inspector_experience_for_new_house/). Then in June, u/wdfour-t provoked a lively debate by asking the deceptively simple question: [Why is property investing a bad idea?](https://www.reddit.com/r/JapanFinance/comments/13xabbm/why_is_property_investing_a_bad_idea/) (Spoiler: because the S&P500 never calls u/fiyamaguchi in the middle of the night about a broken toilet.)
The real estate questions took a dark turn in August, with one user confused about how to handle [the death of their landlord](https://www.reddit.com/r/JapanFinance/comments/15uc70f/the_death_of_a_landlord/), and another user [contemplating whether to buy a haunted house](https://www.reddit.com/r/JapanFinance/comments/15tkx1k/buying_property_with_a_dark_history/). We have since learned that OP did *not* end up buying the haunted house, for better or worse.
Towards the end of the year, there were some very popular posts about the Japanese real estate market in general, including u/Misosouppi’s explanation of why [housing shouldn’t be seen as an investment](https://www.reddit.com/r/JapanFinance/comments/16t33u1/housing_should_be_seen_as_a_place_to_live_not_an/), and a couple of posts from an Australian perspective by u/Radical_Libertarian, asking [why Japanese houses depreciate](https://www.reddit.com/r/JapanFinance/comments/18e4q95/why_do_japanese_houses_depreciate_in_value_over/) (spoiler: it’s complicated) and [how Japan avoids NIMBYism](https://www.reddit.com/r/JapanFinance/comments/18i45ht/how_does_japan_avoid_nimbyism/) (spoiler: it’s complicated).
The third big topic of the year was **budgeting**, perhaps understandably, given relatively high inflation through 2023 and related cost-of-living pressures.
> Yo, y’all are coming for me. Chill out.
This was the plea from an OP in June, after some users took issue with aspects of their [request for budgeting help](https://www.reddit.com/r/JapanFinance/comments/14gprcu/life_is_too_expensive_in_tokyo/). On the whole, though, OP received a lot of good advice. As did the OP of [this post](https://www.reddit.com/r/JapanFinance/comments/16o8ydh/monthly_expenses_review/) from September, who shared their entire monthly budget and asked for feedback. Both posts were about single-income families with young children, and many users were quick to reassure OP that it’s ok to have a lower saving rate through certain stages of life, such as when children are very young and only one parent is working.
It wasn’t just families who sought budgeting help, though. Young professionals moving to Japan were also curious about what they could expect, such as the OP of [this post](https://www.reddit.com/r/JapanFinance/comments/17nbshb/trying_to_budget_my_life_in_tokyo/) from November, who received over 150 replies to their spreadsheet of proposed living expenses.
Meanwhile, financially-independent early-retirees wanted to know how much it would cost to enjoy a comfortable life in Tokyo. In response, some users gave satisfyingly concrete examples of what a wealthy retiree’s expenditure might look like, with two of the best being u/Bob_the_blacksmith’s proposed expenditure of 1 million yen per month in [this thread](https://www.reddit.com/r/JapanFinance/comments/14zkvmu/coastfire_in_us_is_6_million_yen_per_year_enough/) from July, and u/fiyamaguchi’s impressive 3-million-yen-per-month budget in [this thread](https://www.reddit.com/r/JapanFinance/comments/15djr4e/how_much_would_you_need_to_retire_in_tokyo_on_a/) from a couple of weeks later.
Given that most of the popular posts during 2023 were about salaries, real estate, and budgeting, it is perhaps no surprise that **the most popular post of the year** was about a combination of all three: [How do people afford to live in luxury tower mansions?](https://www.reddit.com/r/JapanFinance/comments/17c3nzr/how_do_people_afford_to_live_in_luxury_tower/), submitted by u/d_arthur in October. The main thrust of the 223 comments in reply was: contrary to popular belief, there *are* rich people in Japan.
Issues affecting **US taxpayers** are perennially popular, and some of 2023’s most prominent posts tackled [Interactive Brokers migrating US accounts to Japan](https://www.reddit.com/r/JapanFinance/comments/10jq023/has_anyone_ibkr_llc_user_else_recieved_email/) (update: still hasn’t really happened), [the extent to which US taxpayers can use NISA](https://www.reddit.com/r/JapanFinance/comments/11wbjrd/can_a_permanent_visa_american_expat_hold_a_nisa/) (check out u/ImJKP’s comment in particular, as well as u/nyang-a-chi’s experiences with [Nomura](https://www.reddit.com/r/JapanFinance/comments/17zmiqw/nisa_attempt_as_a_us_citizen_nomura_securities/) and [SMBC Nikko](https://www.reddit.com/r/JapanFinance/comments/186jcfo/cont_nisa_attempt_as_a_us_citizen_smbc_nikko/)), [whether the PATRIOT Act prohibits non-resident US taxpayers from having an IRA](https://www.reddit.com/r/JapanFinance/comments/155ev7o/us_citizens_and/) (spoiler: it probably doesn’t), and—somewhat controversially—[whether iDeCo accounts are exempt from PFIC rules](https://www.reddit.com/r/JapanFinance/comments/14xjws8/us_citizens_and_ideco/).
Straight-up **investment advice** is always a slightly awkward topic for the sub, because rules 3 and 4 prohibit the request and provision of advice that can only be provided by a licensed professional. At the same time, r/JapanFinance users generally have a bunch of useful information to offer anyone who is at the start of their investing journey.
In August, u/Existing-Mulberry-28 asked [how everyone would invest 5 million yen if they could afford to be risky](https://www.reddit.com/r/JapanFinance/comments/15sk7jj/how_would_you_invest_5000000_yen/) and received a predictably broad suite of suggestions, including mahjong, whisky, crypto, and the film industry. Then when u/koyanostranger’s spouse [inherited 30 million yen](https://www.reddit.com/r/JapanFinance/comments/16v2521/if_your_japanese_spouse_suddenly_inherits_30/), we learned not to bother with “cow-sharing” schemes, which were apparently big in the 1990s.
Many users seem to follow **foreign exchange rates** closely, and were able to provide helpful replies to the question u/DahPhuzz’s posed in late October: [Why is the JPY sucking so much a$$ right now?](https://www.reddit.com/r/JapanFinance/comments/17f9jl8/why_is_the_jpy_sucking_so_much_a_right_now/) While a fresh perspective on exchange rates emerged in early December, when u/Mechanic-Latter kindly [shared the insights](https://www.reddit.com/r/JapanFinance/comments/18dlyz5/comment/kci4osy/) of their friend’s friend, a chicken farmer in China.
Fortunately, **moderator intervention** is rarely required in r/JapanFinance. But we did have to intervene on one occasion in August, when a question about [getting paid 600,000 (yen) in cash with no deductions](https://www.reddit.com/r/JapanFinance/comments/1643af0/first_paycheck_in_japan_salary_is_600k_a_month_no/) triggered multiple heated debates about whether 600,000 yen/month is a high income. The situation wasn’t helped by the fact that OP’s title didn’t specify a currency, and some users (presumably not regular visitors to the sub!) apparently assumed that OP was being paid 600,000 *US dollars*/month.
When regular contributors disagree, on the other hand, the discussion tends to remain civil and respectful, as demonstrated by the creative way u/ImJKP [summarized their exchange](https://imgflip.com/i/7guuvf) with u/gimpycpu in April about the benefits of iDeCo for people with low salaries.
Finally—and well done if you made it this far—the **second most popular post of the year** was a news article about [whether Japan is on the path out of economic stagnation](https://www.reddit.com/r/JapanFinance/comments/165bkwp/just_as_china_faces_a_japanstyle_lost_decade/). The article was shared, of course, by u/gkanai, who was a consistent source of relevant and interesting news during 2023, just as they were during 2022.
### Successes and Failures
The sub had a few notable wins and a few notable losses this year, in terms of being able to resolve real world problems.
Perhaps the most memorable success story is the [chocolate factory scam](https://www.reddit.com/r/JapanFinance/comments/147g7wv/possible_scam/) from June. Chocolatier u/gobac29 received a pair of very unusual credit card orders, and with the sub’s help, they were able to identify the attempted fraud without suffering any loss.
Then, in November, the sub was able to help u/MTrain24 work out how to [speak to a real person at SMBC Card](https://www.reddit.com/r/JapanFinance/comments/17uxtir/this_is_the_stupidest_question_probably_ever/), with OP’s relief palpable in the update to their post:
> EDIT: I FINALLY GOT A LIVE HUMAN.
On the other side of the equation, we were recently dismayed to learn that the US company that [won’t pay their consulting bill](https://www.reddit.com/r/JapanFinance/comments/17l6erz/american_company_refuses_to_pay_the_bill_to_our/) still hasn’t paid up, notwithstanding all the great advice users provided to OP. It also appears that the sub wasn’t able to [convince this OP to file a tax return](https://www.reddit.com/r/JapanFinance/comments/17ptufm/is_kakutei_shinkoku_mandatory_for_this_situation/), even though they are in line to receive a 50,000 yen refund.
But perhaps the most significant failure of 2023 was the severe anxiety experienced by u/jpnforeigntaxstuff upon reading though a bunch of past threads, as expressed in their November post: [Anyone else learning a ton on this sub but simultaneously stressed the fuck out?](https://www.reddit.com/r/JapanFinance/comments/17rw28c/anyone_else_learning_a_ton_on_this_sub_but/) There were some attempts to reassure OP that things aren’t actually as complex as they first appear, but there was no sign that the reassurance was effective. Maybe this year we should aim to put together a guide for new users who are feeling overwhelmed: “*r/JapanFinance or: How I Learned to Stop Worrying and Love the NTA*”?
### Megathreads and Polls
There were a record 712 comments in the 2023 [Tax Return Questions Thread](https://www.reddit.com/r/JapanFinance/comments/10gdhfz/tax_return_questions_thread_filing_deadline_march/), exactly double the number of comments made in the 2022 thread, coincidentally. The other three regular questions threads ([Residence Tax](https://www.reddit.com/r/JapanFinance/comments/14gj8nh/2023_residence_tax_questions_thread/), [Year-End Adjustment](https://www.reddit.com/r/JapanFinance/comments/176ookz/2023_yearend_adjustment_questions_thread/), and [Furusato Nozei](https://www.reddit.com/r/JapanFinance/comments/18dk8rx/2023_furusato_nozei_question_thread/)) were also well-received, with plenty of thoughtful questions and helpful advice.
A one-off [Invoice System Questions Thread](https://www.reddit.com/r/JapanFinance/comments/128iwv8/invoice_system_questions_thread_april_2023/) was posted in April, too, in preparation for the introduction of the Invoice System in October.
There were 52 Weekly Off-Topic Discussion Threads (1,700 comments in total) and 10 Friday Poll Threads. The most popular poll by far was about [housing costs](https://www.reddit.com/r/JapanFinance/comments/131dq6p/friday_poll_thread_housing_costs/). While the most surprising result was the “I believe I am immortal” option winning the [“Have you made a will?”](https://www.reddit.com/r/JapanFinance/comments/16d43lw/friday_poll_thread_have_you_made_a_will/) poll.
### Thank You For Your Service
Here it is—the section of the report you’ve all been waiting for: the unavoidably incomplete list of users who made significant contributions to the sub through 2023.
Many thanks, in no particular order, to: u/ImJKP, u/upachimneydown, u/tsian, u/univworker, u/sendaiben, u/serados, u/Junin-Toiro, u/Karlbert86, u/kansaikinki, u/Even_Extreme, u/Nihonbashi2021, u/m50d, u/Misosouppi, u/stakes_are, u/ResponsibilitySea327, u/Old_Jackfruit6153, u/shrubbery_herring, u/Shale-Flintgrove, u/Misosouppi, u/gimpycpu, u/Murodo, u/Klajv, u/Choice_Vegetable557, u/Guitar-Sniper, and u/furansowa.
It’s especially rewarding to see users progress from predominantly asking questions to predominantly answering them. Two great examples of this from 2023 are u/shrubbery_herring and u/Shale-Flintgrove, who have become leading authorities on late-career/early-retirement moves to Japan from the US and Canada, respectively, exhibiting an impressive willingness to share the results of their research with others.
### Management and Administration
The moderators through the whole of 2023 were u/starkimpossibility, u/Traditional_Sea6081, and u/fiyamaguchi. In recognition of our efforts, we have unanimously voted to double our remuneration for 2024.
Thanks as well to u/Sanctioned-PartsList for running the furusato nozei questions thread each year, and to u/Junin-Toiro for ensuring the wiki continues to expand and improve.
### Final Reflections
The creation of a [wiki mirror site](https://japanfinance.github.io/) with navigation sidebar and powerful search function was a major achievement for the sub this year. We encourage everyone to take a look at it.
And as you’re browsing r/JapanFinance during 2024, please keep the possibility of adding information to the wiki in the back of your mind. Even just adding a link to a useful thread or comment can help a lot of people find the information they need.
(For those who noticed the recent issue with the wiki not automatically syncing with the mirror site, we are pleased to say that the issue has been resolved.)
We’re looking forward to another year of productive personal finance discussions. Anyone with questions, suggestions or comments about the sub should feel free to [message us](https://www.reddit.com/message/compose?to=/r/JapanFinance) at anytime.
by starkimpossibility
