This is the most common error saving parents : open a Livret A at the birth of the child, set up a automatic transferand don’t touch it again. With a rate reduced to 1.5% net since February 1, 2026 and a ceiling of €22,950 “the Livret A is the family’s safety cushion, not the tool to prepare for a child’s studies”, summarizes Jordan Sarralié*, wealth management advisor in Orléans. When you have 15 or 20 years ahead of you, you have to direct your savings towards more dynamic sources.
In the short term, the Livret A and the LDDS are interesting due to their immediate availability and the absence of risk. In the medium term, life insurance in the name of the parent takes over thanks to advantageous taxation beyond 8 years. Beyond 10 years, SCPI and PER become real levers for building assets. “The worst mistake is to buy SCPIs for a three-year project. We combine the entry costs and the risk of having to resell in a bad real estate cycle”warns the advisor.
With 12.7 million holders And 141.1 billion euros in outstandings in the third quarter of 2025, the Retirement Savings Plan has established itself as a flagship product for long-term savings. But to prepare a child’s capital, it is an indirect tool: it is the parent who subscribes, deducts his payments from his taxable income, and later transfers all or part of the capital to the child. ” THE PER is interesting for a household taxed at 30 or 41% which wants to smooth out its taxationbut it is not very suitable if you want to keep control of the money intended for the child”slices Jordan Sarralié. The logic is clear. Below 30% TMI, the entry tax saving does not compensate for the exit tax. “Below the 30% bracket, opening a PER to finance a child’s studies makes almost no fiscal sense”confirms the advisor.
The Société Civile de Placement Immobilier represents the most attractive option in terms of pure return, with a average distribution rate of 4.91% in 2025 according to the ASPIM-IEIF report. But this return comes at a price: high entry fees, often 8 to 12% of the invested capital, reduced liquidity and risk of capital lossL. “The SCPI can be an excellent lever for building capital over fifteen or twenty years, provided you accept that there is no guarantee and that resale can take several months,” warns Jordan Sarralié. The advisor recommends two options for families: direct detention in the name of the parents with scheduled donation of shares, or via a multi-support life insurance which pools costs and offers gentler taxation. “For child savings, I almost systematically favor SCPI housed in life insurance: entry fees are reduced, liquidity is better, and the transmission taxation becomes fearsomely effective,” he explains.
Three family profiles, three allowances to know
To embody his method, Jordan Sarralié offers three standard allowances calibrated according to the tax profile and the horizon of the parents.
- First profile, the family at 11% TMI with a young child: 100% on regulated savings accounts (Livret A, LDDS) until reaching a precautionary reserve equivalent to six months of expenses, then gradual switch to multi-support life insurance.
- Second profile, the 30% TMI household with a teenager: a mix of 30% booklet / 50% multi-support life insurance / 20% SCPI directly or in life insurance.
- Third profile, the home heavily taxed at 41% with young children: 20% savings account / 30% life insurance / 30% SCPI / 20% PER in the name of the parent to recover the tax savings.
“My clients who are most successful in passing on capital to their children are not those who aim for the best return, they are those who started early and diversified intelligently”observes Jordan Sarralié. “Paying €100 per month for twenty years at a 4% return is almost €37,000 for the child, excluding taxes, much more than any miracle investment started too late,” he says.
To avoid taxation or reduce it, the ideal is to invest with credit leverage. “Parents take out a loan of €40,000 for example over 20 years, with a monthly payment of €233, rent at 4% or €133/month. Parents still need to mobilize €100 in savings per month. The big advantage is that the loan insurance protects capital hoped for for the child, whatever happens to the parents. » If the parent dies prematurely, payments stop. The credit being assured, it secures the investment. Better, we can deduct loan interest of the rent therefore reducing taxation. “But your bank still needs to be willing to support you with such an investment. But that’s another debate.” he concludes.
* Jordan Sarralié is a certified wealth management advisor, director of Lord Invest in Orléans. He supports families and entrepreneurs in building long-term wealth strategies.
