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:
Open a Roth IRA
If you're already earning the full employer match in your401(k), seek the shelter of a Roth.

Unlike with a 401(k), you get no tax break on the dollars you put into a Roth, but you get to withdraw all your earnings tax-free when you retire (maximum 2007 contribution: $4,000 or $5,000 if you're 50 or older; income limits apply). It's a great hedge against higher taxes in the future.

To make saving easy, open a Roth at a brokerage or mutual fund and authorize it to withdraw $333 automatically from your savings or checking account every month for a year.

$4,000 in a Roth today equals $18,644 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.