????????????,????????

????:???????:?????V

?????????????????????????????????10??????????10?????????????????????

(????)??

????????????????????????????????????,????????,?????????????????????,????2023???????????????????,??14????????,?????????????,????????????????????????????????????7.82?????5.75??????0.03????????????????,????????????????????2019?24.32%?130.00%,??????????????,??????????????

??1:????????(??????)

????????????????????????:????????????????????

????????????,????2035????,??????????????????????????,???????,???GDP????????????Willis Towers Watson???????????Thinking Ahead Institute???????????(??90%-95%)????????????????2021????,??????????????????????GDP?????????71.73%,??57.50%?????????????,???????????????????????????????????????????????????100%????????????,??????????????????????????????????60%???????????????????2023?GDP???10.11%,?????????????????????,2023?????????????139.5??????,???????????GDP??111%,??

??????????????2:2021??????GDP?????????????????

???:Thinking Ahead Institute

??3:??????????????GDP?????????????

????????????:??

??,???????,?????????,??????2023??,??????????????65???????????????????????????2.17???,??15.40%,?,??????????2032-2035????????????????????20%,???????????????????????,????

???????4:?????????????????65???

?????????????:???????

(?)??10???20??????,??????????????10????????

????,????,?????????????,??????????,???????????????,?????????????????????????????????????????????????,????????????,????????????,?,??????2023?,??7500?????????????????????,???????7%,???????????????????????,?????60%??????????????GDP?80%?????????,??????????????????????,??,????????????????????,???????????????????,???????????????

?????????????,????????????????????,????????????????(????????????)?????????GDP??????,?????(OECD)?????????????????,2022??????????38??GDP??44.98%,??16%???????????????????????????????????????????????????????????????????????80%??????????,???????????????????????????????????????????????????????30%????????????????????????????????????????2023????,????GDP??????????????4.17%,??????????????????

??5:2022???????????OECD??????GDP???????

??:OECD

???????????????6:???????GDP?

???:??????????????????????,wind

??????????????????,???????????????????,???????????????????????????,?????????????,???????????????????????????2022???????,?34.43?????,?8.22%?58.38%???????????????????33.40%??????????????????,????????????50%????????????,????????????????21?????????,???????????????,???????????2022??????????????,??????????????340.52???,??????????58.77%?30.84%??10.39%?

??7:?????????????

??????????:????????????????(ICI),??(SSA)

???8:?

?????:????????????????????

??????:GPIF,?????????????????(NRI),??(FSA)

???????,?,?????????????????????2035???????35??????????????,?????10???????,??????3??????????????Thinking Ahead Institute??????????????????????2/3????,??????????????????????10???????????????GDP???????????????????????????????????20%???????GDP??????????????3%????,??2035?????????,???????????????????35??????????,??,????3:1,????????????????GDP?????????7.5%????2.5%??????,?,??,??????????????,???????????????60%(1 ????,?)??????????,?2035????????????,???????????GDP?????????????3%??????????????7%???,???2035??,??????????????????????????17.5????5.5?????????????12??????,???????50%?16%???????????34%?

??????????????????????????,???????

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(????)??????????????????????,?????????

1.????????????????????,????????????

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(??)?,??????????

1.?,?????5%???????????????

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2.???????????,????

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????????,??????????????????????,??????TEE??(5)???????????????????????????,???????????????????,??????????EET??,??????????3%??????????????,??????????,?,???????????

(????????)??????????????,????????????????????

1.??????,?

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1.???????????,???????????????

????,????????????????????????????????,??????????????????????????????????,??????,??????????????????NISA????????????(6)??,????????2022??,???????????????ETF?REITs????????63.72%?33.14%?2.47%?0.68%?

????9:2022????NISA????????

??????:??????????????

??????????????,??????????????,?????????,??????????,???????????????????????????,?????????,?REITs???????,????????????,????????????????;??????????,???,?????????????????,?????,??????????????

2.?????,????????

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3.?,???????

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(????)??,????????????????????

????,?,??«????????(2023)»(7)????????????????,34.92%?,?????????????????????????,???,??????????????«2022???????»(8)???,?????????????????20%?????????????????,????????????

???????10:?

?????:??????50???????????????«????????(2023)»

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(??)??,?????????????????

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(??)??,????????

?????????????,?,???????????????????????2024????3??????14???????????,???????????????????????743??????????????,????????????????,????62.58%????,???5??,????185?FOF???????????,????,?????????????IRA(?)???????????????????????????????????,???2023???????????,??????????????????????42.67%,?????????????,?????????????43.46%?12.28%?

?????????11:???????????????????????????????(?2024??3?14?????????????)

??????:??

????????12:???????IRA??

???????????????:ICI

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(??????:?????,??;?????,?????????????;?,???)

?:

1?2023??GDP???????60.5%

2???,?????????????????????????2023?????,???????????????????????10.6???????????????????????????????????????????????,???2023????????????,????14.1????

3??????????????,?2023?????????????,??3102.95?????????

4? 2022????,?,??????????????????200?????????????????/???,??????????4%?

5? E(Exempt)????????????????????????T(Tax)???????,????????????????????????????,TEE?????????????

6? NISA(Nippon Individual Savings Account)??????????,????????????????

7?????????????50????:«??????????????(2023)»,2023??12??????????????,??????????17?????

8?????????????????????:????????????????????,???????,?, ?????????????????????????????????:???????????????