Throwaway account because I don’t want a particular relative to find out I helped someone financially. I took out a HELOC for someone and will soon be repaid with interest many years later. I will soon receive a lump sum of approx. 200,000. This is money I will use for my kids college. I already have $100,000 saved for college: ($80,000 in 529 plan which I do not plan to add to and $20,000 in the bank as of now). Since I don’t know who will end up where (state vs private vs trade) I don’t want to tie up any more money over the 80,000 that’s already in the 529 plan. I want to have money available to invest for retirement if there are unused funds. In the meantime I am lost as to where to put this money. I have 6 months of savings in an emergency fund, 401K and Roth IRA are maxed out.
I will not need it for the next 3.5 years at the earliest. Thoughts? Thanks in advance.