birmingplumb,
If you’re not sure where to invest your money then just park it in a saving account or short-term CD for now until you have figured out the proper investment vehicle for your $$. FWIW, I have Janus Flexible Bond T (JAFIX) in my portfolio for the last several years and am extremely happy with it.
As for the idea of loaning the $ to your kid to purchase a house. Just about everyone will tell you it’s a bad idea so I won’t get into that here. Strictly from the investment perspective, 3% may sounds decent today but in a few years you might hate yourself for having that big chunk of money locked down for such a long time with such a low return. Besides, the “borrower” may default down the road and you might be stuck with a house that you never wanted in the first place.
