What is the smartest way to invest 30k for my 1yr old?

What is the smartest way to invest 30k for my 1yr old? I have a lump sum $30k to invest for my son. I plan on still opening a 529 outside of the 30k. I would like it to grow, and also have the option of controlling the funds in case he turns out to be irresponsible. The goal would be something he can draw funds from but also put into so that it could continue to grow and then pass it on to his kids....

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