What to do with excess money for child?

My kid is 1 year old and we have no intention of having other kids.

Her 529 balance is currently over 20k and we make regular contributions of 500/mo. Plugging that in a calculator it will be worth around 270k at 7% return at age 18. In addition, she had a GI bill transfer that grants her additional money.

This seems like it might be a bit overkill. I know some of that 529 can roll over into a Roth IRA if she doesn't need it or she can just take a penalty and use it for non education purposes.

I'm wondering what other avenues there are to save for her that keep the money hers for things like birthday gifts, etc.. Any advice would be greatly appreciated!