I've saved 5k. Should i invest in a CD or Money Market account?

Personally I'm a CD fan. Get one that automatically renews with the interest plowed back into its value automatically. Interests rates aren't anything to get excited about but it is steady. You might want to purchase five $1000 CDs and make the maturity dates a couple months apart. An added benefit of this is should you need a couple bucks you don't have to wait long for one of the CDs to mature and you can cash it in, without disturbing the others.

Money Market funds can be quirky and money can be at risk. Another answerer may have good things to say about them so see what they say. My vote is CDs.

Good Luck (congrats for saving the money).

it depends upon when you need to access the money. The rates for money market accounts and cds are similar. right now I have an online account with HSBC earning 6.0% interest. If you don;t want to be able to touch your money I would say a cd is better. If you want to be able to get it at any time, a money market is better.

Depends on your plans as well. If you know you won't need the money for a while, invest in something more agressive than a CD or Money Market. You will have a better return on your investment.

The return on both is not that attractive but if you shop around for a CD, you may get about 4%, give or take a couple of points.

I would invest in a cd. Money market accounts really don't pay that good of interest. You are able to get short term cd's, usually around 3 months in term. You'll receive a greater return, where as the money market allows you the flexibility in being able to withdraw at your discretion. You are only allowed to withdraw a certain amount of times per month before government regulations start in, but still the flexibility is there. It depends on your need.

Before you start investing you should save about 6 months of income as a safety net for emergencies. That indicates an account with immediate access so either a CD or Money Market fits that purpose.

The interest earned is about the same on both but with the Money Market you do not suffer a penalty for early withdrawal so I'd recommend a Money Market. You can find one that pays at least 5%.

Neither. try BMZ.com and invest in Prosper.

mutual funds. A good mutual fund will net you 12% or 13%.

Neither, look into a high yield online savings account from one of the following online banks. You will be able to earn 4.5% - 5.05% without having all the restrictions that a CD may come with.

EmigrantDirect
INGDirect
HSBCDirect