Why not buy $2000 worth of corporate bonds or a nice paying utility fund, $2000 worth of a growth mutual fund and then leave the $1000 in a CD or the high INT account.
2.38% is pretty damn good in this low interest rate market.
I wouldn't leave 100% in cash. He has 15 years to let it grow and add to it.
"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!"
2016 Adopt a Chief- John Dorsey