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Old 21.05.2019, 06:14
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Tips for saving for kids future, 529, etc for US/UK/CH options?

Hi all
Doing some planning for our upcoming kid later this year. Wife and I are both Americans so looking into how we can start saving for the kids future - whether it's a future house, college if s/he wants to go to Uni in the US, etc. I'd like to keep all options open for UK and CH as well so open to any type of savings vehicle that makes sense.

Looking at 529 savings plans but these are very US focused. If the kid doesn't decide to go to school or in the US, I'm reading the 529 savings could be passed down to a sibling or his/her child - or pulled out as cash with a penalty fee on the profits.

What about other savings vehicles? I'm curious what others are doing for their kids that's low fee, low maintenance. I'm just looking to put some money aside every month.

Thanks in advance
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Old 21.05.2019, 11:06
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Re: Tips for saving for kids future, 529, etc for US/UK/CH options?

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Looking at 529 savings plans but these are very US focused.
The entire concept of charging people vast amounts for education is not a European thing, so no surprise there.

My son is finishing year two in college here, so itís cost us about 2k - 3k in total. People just take it from their normal savings.

Of course the banks try to market the idea of saving for college here, but it is not really a thing here, so donít expect to find many products.
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Old 21.05.2019, 11:28
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Re: Tips for saving for kids future, 529, etc for US/UK/CH options?

Back then in Germany, people would sign up for a "Bausparvertrag" for their kids and put 50 DM into it every month....


That was back then, when you got 5% interest on it and had to pay 10% or so for a loan...


I guess for a 20+ year investment-horizon, you would choose any of the low-fee ETFs mentioned in this and other forums.
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Old 21.05.2019, 13:56
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Re: Tips for saving for kids future, 529, etc for US/UK/CH options?

Being Americans you'd probably have to look at whether any US tax would have to be paid on such savings, if they're outside of the US.
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