If it was me, I'd probably dollar average into a good index fund and let it ride for 12-15 years. I'd also consider having a chunk of the money unavailable until the kids are 30+. It could really set them up.
Perhaps you split the money up. A conservative account for college and an index fund for the rest.
The older I get, the more I realize its a simple game of time in the market and inflation in regards to stocks and real estate.
__________________
Todd
The Following User Says Thank You to Vegas69 For This Useful Post:
Brian Hobaugh SCCA National Tour June 2014
First Hemi 'Cuda Convertible Ever Built
Short clips: Goodguys Pleasanton autocross and pit videos
Threaded Mode