What to do with 50k from house sale?
My Girlfriend and I moved in, and she has about 50k from the equity in her house now sitting in her savings account. Obviously this isn't ideal since its making next to nothing in interest.
The plan is to invest 10k for college of her child. (he's 4 now -and a ton of fun)
The 40k will be used (or a portion of it) when we build a new house in about 3-5 years.
We've been looking at an ING Mutual fund account, and putting the 40k in ING balanced fund (IDBAX), and the 10k in strategic growth fund (IDSGX).
Thoughts? We don't need this money for anything for a few years 3-5, and we want, like everyone, this money to work for us and to grow.