Buy into your company's stock purchase plan. Many public companies offer employees the opportunity to buy its stock at a reduced price.
Buy a CD. Visit BankingMyWay to see which banks in the country are offering the best rates for CDs. Right now, a return of 3.5% to 4% is the highest rate you can expect to get for CDs ranging from three to five years. "It seems like a small gain, but if you put your money into the stock market, it might drop, and if you leave it in your bank account, it won't grow at all," Wall says. She suggests opening a CD if you have an anticipated expense coming up in a few months or years, such as buying a car or going back to school. $5,000
Put it into a quality stock mutual fund. Mutual funds invest in a diversified portfolio of stocks, and by putting $5,000 into a high-performing fund, you can expect a significant return on your investment.