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At under 30 people are going to tell you to put your money in a riskier portfolio.
You could open an IRA or a Roth IRA. The difference between the two is essentially when you get taxed, now or later.
Once money is in your IRA though you are penalized for taking it out. You can take money out of an IRA to buy your 1st home (only your first home so if you already bought a house it is a no go). But if you take $ out before you are 60 something you get penalized.
Inside an IRA you can invest in several different classes of assets. From treasuries to mutual funds you can pick and choose depending on your risk / return levels.
I'm turning 30 in a couple months and I have a Roth IRA with Vanguard. They seem to do a good job without charging too much. I don't own a home yet so I will probably use my IRA savings towards that. If the housing market ever gets itself back at some reasonable level.
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-Marine Blue '87 930
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