Where to put $5,000 now

What would you do with a million bucks? That's easy. But what about five grand? With a handful of broad goals in mind, here are Money Magazine's picks.

Goal: Retiring rich
Best retirement moves at any time:
Up your 401(k) contribution
This is the best move, and yes, you've heard this all before, but it's still true.

As a way to build money for retirement, nothing comes close to a 401(k). Saving by payroll deduction is painless and ensures that you make regular contributions.

You get a tax break on what you put in, and the money grows tax-free until you withdraw it when you reach retirement.

Best of all, your employer probably matches your contributions, typically 50 cents on the dollar (on up to 6 percent of your salary) - for an immediate 50 percent return on investment.

$7,500 in a 401(k) today equals $34,957 in 20 years (assuming an 8 percent annual return).
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.