What could your child have in their account at 18?

€100 a month. But starting when? The same savings rate can mean a difference of around €15,000 for your child. Depending on when you start.

Most parents ask themselves at some point: should I set money aside for my child? Few of them also ask: what does it cost to wait a few more years to start?

The figures below are model calculations. They show what the Miravel model works out for specific inputs. No two households are the same. Your numbers will differ.

The same savings rate, three different starting points

Picture three families. All of them invest €100 a month into a global equity ETF. All of them use the non-assessment certificate (Nichtveranlagungs-Bescheinigung) for the child. The only difference: when they start.

Family 1: starting at birth

Markus and Julia from Hamburg open a children's investment account for their son Leon right after he's born. They save €100 a month for 18 years.

Amount paid in: €21,600
Projected balance at 18: around €39,300
Of that, growth through compounding: around €17,700

Family 2: starting at age one

Olena moved to Germany from Ukraine two years ago and works as a nurse in Dortmund. When her daughter Kira turns one, Olena hears about a children's investment account for the first time. She starts now: 17 years until the 18th birthday.

Amount paid in: €20,400
Projected balance at 18: around €35,900
Of that, growth through compounding: around €15,500

One year missed. That costs Kira not just the €1,200 that weren't paid in. It costs around €3,400, because money paid in early grows the longest.

Family 3: starting at age five

A third family waits until the child is in school. Then they start. Still 13 years until the 18th birthday.

Amount paid in: €15,600
Projected balance at 18: around €24,000
Of that, growth through compounding: around €8,400

Compared with Family 1: €6,000 less paid in, but around €15,000 less in the account. The five years of waiting cost not just the missed payments. They cost the compounding on the first 60 contributions too.

What is a children's investment account?

A children's investment account (Kinderdepot) is a securities account legally held in the child's name. Parents open it and manage it until the child turns 18. From the 18th birthday, the account belongs entirely to the child. Parents no longer have any access after that.

The most important tax advantage: the child has their own saver's allowance (Sparerpauschbetrag) of €1,000 a year. Capital gains up to that limit are tax-free, regardless of how much the parents earn.

What is a non-assessment certificate?

A non-assessment certificate (Nichtveranlagungs-Bescheinigung, NV certificate for short) is a document from the Finanzamt (tax office). It confirms that the child has no taxable income. The bank then deducts no tax at all on capital gains, even on gains above the saver's allowance.

It's worth it: a child with no income of their own effectively pays zero percent tax on capital gains, as long as the child's total income stays below the basic allowance (Grundfreibetrag, 2026: €12,348) plus the saver's allowance. Without the NV certificate, the bank automatically deducts 26.375 percent capital gains tax (Abgeltungsteuer), even when the child wouldn't owe anything. The certificate is valid for three years and can be reapplied for after that.

If you're new to Germany

Anyone who lives in Germany and is tax-resident here can open a children's investment account for a child living in Germany, regardless of where the family comes from. The German tax rules apply to everyone whose residence is here.

For the NV certificate, what counts is your current tax residence in Germany, not your past in another country. For families who moved here from Ukraine, Poland, or elsewhere: what matters is that the child lives here now.

At 18, the account belongs to the child

That isn't legally negotiable. From the 18th birthday, the child has full control. Parents no longer have any access after that. Not even with the best intentions. If you'd like the child to keep the account going, start the conversation early.

What these numbers don't show yet

The model assumes a constant return of 6 percent a year after fund costs. That's an assumption, not a guarantee. Equities fluctuate. In bad years the account grows more slowly or shrinks for a while.

On top of that: if the account holds more than €15,000 when the child applies for student support (BAföG), the amount above that counts against the support entitlement. That can reduce it. Miravel shows a note as soon as the projection crosses that threshold.

Accumulating funds are subject to the advance lump-sum tax (Vorabpauschale): each year a minimum tax amount falls due, even when no shares have been sold. The Miravel model accounts for this effect.

One point many people overlook: if the child's capital gains exceed around €565 a month (2026: a seventh of the reference figure), the child can fall out of the free family insurance and has to take out their own health insurance. With a large account, a single sale can push past that limit in a single year.

Why isn't a normal savings calculator enough?

A savings calculator shows how much €100 a month becomes after 18 years. It accounts for neither the child's saver's allowance nor the NV certificate nor the advance lump-sum tax. Miravel works through all three tax paths: capital gains tax, the favourability check (Günstigerprüfung), and the NV certificate. You see the difference at a glance. Locally in your browser. No account.