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It depends on what you need the money for. If you're going to use it for tuition, then start a 529 for yourself and enjoy the tax-free growth. If you're going to use it for a downpayment, then you may need it more liquid.
If there's a very set time that you'll need the money, you may want to try some short term municipal bonds. They're tax-free growth and guaranteed return, especially if you're dealing with a government entity with a good rating.
Honestly, $60k isn't a great starting point. It's on the small side for any meaningful growth unless you're planning on adding to it down the road. But that's not what this thread is about.
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