Hello, fellow Mustachians! I need your advice. I have about 30K sitting in a savings account that I have earmarked to help out my 3 kids (ages 15, 13, 8) with college expenses eventually. I'm torn, because I don't want to make a bad decision and lose my shirt if I make bad investment decisions. The options I am considering are as follows:
1. Leave the money in the savings account (very low interest, less than 1%)
2. Start a taxable Vanguard account and invest in index funds.
3. Start a 529 (maybe through Vanguard/Nevada?)
I'm scared because my oldest will be heading to college in 3 short years, and I don't want to make a bad investment decision, hit a crash, and take a decade to recover. At the same time, I realize that I'm (in a sense) "losing" money by keeping it in the savings account, because the interest isn't keeping pace with inflation. What would you all recommend?