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Unfortunately, I can't see the funds and can't say anything about the costs. Therefore, just in general: When should the son get his hands on the money? In the first case, it is only about 12 years, i.e. a $VWCE would probably be the best compromise between return, security and simplicity. In the second case, one can also be more aggressive and possibly take a $NDAQ. Here, there are more opportunities for higher risk. Here there are more opportunities for higher risk. More ETFs are not needed, since each one is already well diversified.
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@Epi My son will be 6 in May. He should be able to access his money at the age of 18. Is there a broker that offers children's accounts? Unfortunately, I can only find robo-advisors that invest your money themselves.
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@FatihHan91 Can't you just open a custody account in your name at TR or SC and transfer it in 12 years? Otherwise, there's not quite enough time to invest aggressively. So $VWCE.
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@Epi I think that the transfer is such a tax gray area. Saving directly into a child's custody account has many more tax advantages. That's what I've been told 🤷♂️😁
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@FatihHan91 Okay, I'm not sure about that. But just put it in your name and give your son power of attorney at some point, that would work too, right?
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@Epi Would theoretically go 🤷♂️
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@FatihHan91 Then you can just go with an established neobroker. TR or SC. They are cheap and flexible.
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Neobroker does not yet offer a children's account. Just Google for it. There are a lot. I will open my children's accounts at ING.
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@Teufelskerl Then the question to you: What is the advantage of a child custody account over the 18+ power of attorney?
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@Epi Among other things, it minimizes the risk that you "gamble" with it, since you are only allowed to manage it until the child reaches the age of majority. In the event of financial problems, no third party can access it. In addition, children's custody accounts are usually free of charge or inexpensive and not unimportant could be the point that children from birth have their own annual allowance for investment income and income does not have to be, but can be important.
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•@FatihHan91 Of course - after all, the child also has an income tax allowance AND a saver's allowance.
This means that the child can earn significantly more in tax-free returns than you could.
I don't know whether the child tax-free allowance is eliminated from a certain amount - but it's always more economical...
This means that the child can earn significantly more in tax-free returns than you could.
I don't know whether the child tax-free allowance is eliminated from a certain amount - but it's always more economical...
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