This is what I did…
Took two $5k gifts from a grandmother and put them into a Vanguard mutual fund account that I liked (Healthcare) around 15-18 years ago. We never added any more to it, and haven’t taken out anything; account is in my name. I just looked and it is at $112k. (Oldest son had full scholarship, so his share of this I decided will be towards a home down payment).
Also set up 529 account through our state with T.Rowe Price, return hasn’t been that great - but the tax advantages are good. I make sure to pay the college directly from the 529 account online so that the IRS doesn’t get excited.
Is this college fund for a young child? or yourself?
My personal opinion is to stay away from investment brokers, since you are here asking then you are smart enough to do it yourself.
If I were you, I would split the college savings between your state’s 529 and a good mutual fund. I’m partial to Vanguard and Mairs & Power funds because of their low fees. Fidelity, T.RowePrice are good too. Get the latest issues of Money or Kiplingers Magazines from you library and browse through them, they always have lists of top mutual funds. Once you find a few that you like, you can run the numbers on Morningstar to get another perspective.
Mortgage Insurance - don’t purchase (and if required by lending company, find out at what point you can drop it).
401k - only do if your employer matches; Roth IRA is better for the tax savings when you retire.
Life Insurance - only purchase if you have a home, spouse, children. Make sure it’s high enough to cover paying off the mortgage and your spouse can stay home with the children until they are 18. Chances are you won’t use it, so don’t make it too high that the yearly payment is a stretch for you. Check with your employer if they already offer this, you might be able to raise the $ by making a deduction from each paycheck.
Again - these are my personal opinions.