Where to Put $5,000 Now.

It would be nice, wouldn't it, if creating a secure financial life for you and your family was a one-time move. But in real life, the wherewithal to build a future tends to arrive in dribs and drabs--the $8,000 bonus, the $2,500 tax refund, that $6,000 in savings bonds you've been meaning to cash in. Even when you've been at it for a while, the bulk of your money decisions are more likely to involve those four-digit amounts than massive windfalls.

So where should you put five grand today? Well, you can't really answer that until you pose some other questions. For example, if you're just getting going, you may be eager to buy a killer stock, but you first need to ask whether you've got enough cash to see you through an emergency or whether your money might be put to better use paying off credit-card debt. Once you're on your way, where to invest the next $5,000 depends a lot on where you put the last $5,000. And by the time you're a seasoned vet, the question comes down to how much pizazz you want to add--or what risks you want to defend against.

In the article that follows, find the pages that reflect where you are in life and read the questions. The answers will guide you to the investment or action that's the best choice for that $5,000 or so you're itching to put to work. Ready? Then get to it.

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By George Mannes, gmannes@moneymail.com and Michael Sivy, sivy@moneymail.com