The value of the fund, some of which was actually invested in Enron, crashed to something like half of its original value and has only now, 7 years later, regained its original value.

I don’t want to keep the money in the Janus mutual fund, but I also don’t have a clue where to put it. My wife and I are planning to start a family here soon (we’re already trying to conceive, so it could be in a month or in a year), and we’d like to have some spare money set away for unexpected expenses — of which I’m sure there are plenty in a family with kids.

So what would you do? Stash it in a CD? Put it in the bank? Use another mutual fund? Spend it on some other investment? I’m open to suggestions, but please tell me as much as you know about the type(s) of investment you suggest. There’s a lot I don’t know about investing, obviously, or I wouldn’t be here
Some people have suggested I put this money into savings.

We already have two savings accounts. One for urgent, unexpected needs, and the other that we don’t touch for any reason.

We want to invest this money, not put it into a savings account.