What to do with $1,000 now

Low interest rates and the recent stock market surge make this a challenging time to find the best places for your extra cash.

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Start a young investor off right
Start a young investor off right
Sound impossible to create a diversified portfolio of funds with just $1,000? It was -- until May, when Schwab dropped the minimums for its index funds to a rock-bottom $100 apiece. That makes them the perfect teaching tool: Your child can deposit holiday or birthday money into a mix of funds that mimics the allocation a high roller might have.

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Last updated October 12 2009: 5:19 PM ET
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