<prompt> Human: I just came into some money from sale of stock options. I am 37 years old. I have 3 kids. Id like to use the money in as tax-advantageous way as possible. I am self-employed, my wife does not work. I was going to open a SEP for myself and max it out. I thought maybe my wife could set herself up as a 1099 contractor to me and do the same? Is that reasonable?Is there a good tax-smart way to save for college for the kids? Ive heard good and bad about 529 plans.Thanks  <response>: Its best to ensure you and your wifes retirement first before investing a 529 plan for your kids. Kids have access to scholarships, grants and student loans. You cannot borrow for retirement. Just my 2 cents. 