Kay is the founder Black Kids Do Travel as well as the extremely popular site The Mom Trotter where she talks budget travel tips, homeschooling life and living in an RV full-time. Learn more about Karen and her family, how they decided to hit the road, what it means to be a global citizen and much more!

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Three Investment Accounts I Opened for Aiden so that he can be a millionaire before he's 18.

Yes, I'm speaking it into existence for him.

I did not come from money, but my son will. I may never be a millionaire but my son will be. I am making all the right financial moves now so that I can secure a solid financial future for my him. Generational wealth, let's GOOOOO!!!

1. UTMA / UGMA - This is a custodial brokerage account. I can buy stocks for him and invest in mutual or index funds.

2. 529 - This is a college savings account. I want to make sure if he decides to attend college, he can do so debt-free.

3. Roth IRA - This is my favorite of all because it's a tax-free account. A is able to have one because he is an employee of our business so he has earned income. We max it out yearly for him at $6K. I can also buy stocks and index or mutual funds in it.

All three accounts are with Fidelity and I love them because of the ease of use. All three accounts will grow as the years go by and by the time he's 18 — my goal is for him to be a millionaire.

Some stocks A has. which he researched and we bought, are Apple, Microsoft, McDonald's and Nike. And he also has his money invested in the S&P500 and Total Stock Market funds like FSKAX and FSAIX.

Savings accounts don't grow, so if your kids have money, I highly recommend that you invest it in one of the accounts above.

Check the full blog post from The Mom Trotter that goes into detail about these accounts and more.

How are you saving for your child's future? Do your kids have any of these accounts? If so which ones?

And as always, please ask me at my IG @themomtrotter. I'll be happy to answer. Knowledge is power!!! Please make sure you share this with someone. Two years ago I knew NOTHING about these accounts, and look at me now.

DISCLAIMER: This is not financial advice. This is what I do and what works for us.