- Save with an online bank. Online banks typically offer more interest than a traditional bricks-and-mortar bank.
- Think about certificates of deposit (CDs) or money market accounts.
- Consider investing in a Roth IRA.
- Research online investment firms.
- Invest in actively managed mutual funds.
- Go for index funds.
What should I do with $5000?
The Top 8 Best Ways To Invest $5,000
- High Yield Savings Accounts.
- Lending Club.
- Mutual Funds or ETFs.
- Real Estate.
- Pay Down Debt.
- College Savings Accounts.
Is 5000 a lot of money?
The average American spends $5,000 a year on gas. $5,000 is not a lot of money and saving it is not going to change your life. If you aren’t making at least $100,000 a year, you need to be investing in yourself so that you can have the ability to increase your income. Cardone University is $4995.
What is the best $5000 investment?
Buy commission-free ETFs
A $5,000 investment gets you past most standard mutual fund and index fund minimums, which typically hover between $1,000 and $3,000. Enter exchange-traded funds, which you can buy through that IRA or an online brokerage account. ETFs are index funds that trade like a stock.
How can I turn $500 into $1000?
Check out the eight ways you can turn $500 into $1000.
- Learn the Stock Market.
- Try Robo Investing.
- Add Real Estate to Your Portfolio with Fundrise.
- Start an Online Business.
- Invest in Yourself with Online Courses.
- Resell Thiftstore Clothing.
- Flip Clearance Finds.
- Peer to Peer Lending with Prosper.