Is it worth opening an ISA account?
I'm in my late 20s and currently only have savings and deposits. I've heard a lot about ISA accounts—what benefits would I get if I start now? The tax exemption at maturity seems good, but...
6 answers
Agreed, I also opened an ISA.
Well, that sounds tempting, but it's actually not that great.
If you're in your late 20s, it's better to start now. With the brokerage-type account, domestic stock gains are included in the tax-exempt limit, and you can save on taxes up to 2 million won. Just keep in mind that you need to complete the mandatory 3-year subscription period.
That's right lol, tax exemption is sweet.
I opened mine in my early 30s and have had it for three years now. Honestly, the tax-saving effect isn't huge. But setting up an automatic monthly transfer has built a savings habit, and if you use the dividend and trading profit limits well, it's not a bad deal. Just be sure to compare fees and fund management terms between banks before signing up.
That's old news, isn't it? I've heard ISA benefits have been reduced these days. You need to closely check the tax-free limit and the early termination penalty conditions.