Parents rely on savings accounts for their children instead of investment funds
Keystone-SDA
Parents in Switzerland put money aside for their children and they do this primarily with savings accounts.
Specifically, more than three quarters of all parents (76%) invest their children’s money in a savings account, as the survey of around 1,000 Swiss parents shows.
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The survey conducted by Lucerne University of Applied Sciences and Arts (HSLU) on behalf of the online wealth management company True Wealth shows that investments in securities play a subordinate role. Only 21% surveyed invest in securities such as shares or ETFs.
“With their long investment horizon, children would be ideally placed to take advantage of high-yield investments and benefit from the compound interest effect,” says Tatiana Agnesens, head of the HSLU study.
The investment horizon is long because, according to the survey, over 60% of parents start saving in the first year of life, and around 10% even before the child is born.
Adapted from German by DeepL/ac
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