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.

By Asa Fitch and George Mannes, Money Magazine

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Goal: Retiring rich

Best moves near retirement: Invoke "catch up" provisions

If you're 50 or older by the end of 2007, you can boost your savings in two ways: Put an extra $5,000 into your 401(k) for a total of $20,500. Or add another $1,000 to the usual $4,000 IRA limit.

If you're 50 or older by the end of 2008, you can contribute up to $6,000.

What would you do with $5,000?

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