The idea is good.
The reader is considering setting up stock ETF savings plans for his six grandchildren.
It's one of the best ways to save money and get a good return in return.
First step: You need a depot.
This can be carried out in one's own name, but also in the names of the grandchildren.
In current tests, Scalable Capital and Trade Republic are the cheapest providers because they generally offer savings plans free of charge and the custody accounts do not cost anything.
With ING Diba, a large provider is now following suit.
From April onwards, all around 800 ETF savings plans will be free of charge.
Up to now, most of the 1.75 percent of the savings rate had to be paid as a fee.
Branch banks often do not offer any ETF savings plans, and custody accounts are subject to a fee.
Daniel Mohr
Editor in the economy of the Frankfurter Allgemeine Sonntagszeitung.
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Once a bank has been found and the custody account is opened, it can be filled with securities.
Now you have to decide in which shares you want to save.
There is nothing wrong with taking the classic MSCI World, the world share index with 1,600 companies from 23 industrialized countries.
Those who like it more local can of course also take the Dax or M-Dax, and those who rely on technology can take the Nasdaq.
There are several providers of exchange-traded index funds (ETF) for each of the indices.
The fees of the funds hardly differ.
The largest provider is iShares with an ETF on the MSCI World with the identification number A0RPWH.
The X-Trackers fund with the identifier DBX1DA is a good offer on the Dax, and the Lyxor LYX0R1 on the M-Dax.
Savings installments are possible from one euro per month.
Often the minimum rate is 25 euros.
The savings rates can be varied or suspended at any time.
The funds are available to the investor at all times and are not part of the bankruptcy estate in the event of a bankruptcy.
Do you have any questions about money? Please contact Daniel Mohr at fragdenmohr@faz.de