16 Savvy Strategies for Investing $15,000 in the Long Term

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If you have $15,000 saved, you’ll want to make that money work for you. Otherwise, inflation can eat into your savings fast. Plus, higher interest rates mean it’s worth having some money in savings accounts again. But where should you put your $15,000? It depends on your timeline—whether you’re looking to grow it for a few years, a few decades, or longer. You’ll also need to consider how much risk you’re willing to take for a reasonable return.

Here’s a list of 16 ways you can invest $15,000 in 2024 and how to get started:

1. High-Yield Savings Accounts
   If you plan to use your $15,000 in the next few years, consider a high-yield savings account. The best ones are FDIC-insured, protecting you up to $250,000 per depositor. Yields are much higher now, especially at top online banks. For example, Save Better offers 5.26% APY on savings with no minimum deposit or hidden fees, plus a complimentary ATM card for easy cash access.

2. Auto-Pilot Investing
   You can automate your investments using apps like Acorns, which rounds up your purchases and invests the difference in diversified portfolios of ETFs. Acorns even allows you to invest spare change in a Bitcoin ETF. It costs just $3 or $5 per month, depending on the features you want.

3. Invest in Fractional Shares
   Fractional shares let you buy portions of popular stocks without purchasing a whole share. M1 Finance is a great platform for this, offering commission-free investing in "pies" made up of various stocks and ETFs. You can build your own pie or choose from expert-crafted ones.

4. Real Estate Crowdfunding
   Investing in real estate doesn’t mean you have to be a landlord. Platforms like Fundrise let you invest in REITs (real estate investment trusts) with commercial and residential holdings. Fundrise investors have seen an average yield of 22.99% in 2021 and 1.50% in 2022. It’s a way to invest in real estate without the hassle of managing properties.

5. Open a Brokerage Account
   A brokerage account gives you the flexibility to invest outside of a retirement account. This means you can buy and sell shares anytime without waiting until retirement age. You can invest in index funds, dividend stocks, individual stocks, and more through platforms like Vanguard, Fidelity, M1 Finance, and Robinhood.

6. Hire a Robo-Advisor
   If you’re unsure where to start, a robo-advisor like Betterment could be your answer. Robo-advisors use algorithms to make investment decisions and cost less than human advisors. Betterment fees start at just 0.25%, much lower than the 1% or more that financial advisors typically charge.

7. Open a Roth IRA
   A Roth IRA is a great way to save for retirement on an after-tax basis, allowing for tax-free growth and tax-free distributions in retirement. You can withdraw your contributions anytime without penalty. You can open a Roth IRA through platforms like M1 Finance, Robinhood, Betterment, or Wealthfront.

8. Invest in Crypto
   Despite the volatile nature of crypto, you can invest in cryptocurrencies like Bitcoin and Ethereum, which appear to be stabilizing. Platforms like Coinbase, Robinhood, and M1 Finance can help you get started.

9. Pay Off High-Interest Debt
   If you have high-interest debt, using your $15,000 to pay it off can be a smart move. For example, paying off $15,000 in credit card debt at 19% APR is like getting a 19% return on your money.

10. Invest in Art and Collectibles
    You can invest in famous works of art or digital art through platforms like Masterworks, which lets you buy fractional shares of high-valued art pieces. You earn as the art appreciates over time.

11. Certificates of Deposit (CDs)
    CDs are a low-risk investment option where your money is FDIC-insured. Save Better offers competitive CD yields and various terms to choose from.

12. Series I Savings Bonds
    These government-backed bonds offer solid returns and inflation protection. However, you can only invest up to $10,000 per year and must hold them for at least 12 months.

13. Start a Business
    $15,000 might be enough to start a small business, like a service-based operation. If you’re hesitant, consider investing in other small businesses through platforms like Mainvest, which targets returns between 10% and 25%.

14. Invest in Digital Real Estate
    Invest in websites, blogs, e-commerce businesses, or even digital products like courses and printables. Platforms like Flippa.com can help you buy existing websites.

15. Invest in Farmland
    Platforms like FarmTogether allow you to invest in fractional shares of farmland. This can diversify your portfolio beyond traditional stocks, bonds, and crypto.

16. Open a Health Savings Account (HSA)
    If you have a high-deductible health plan, an HSA can save you money for future healthcare expenses tax-free. In 2024, individuals can contribute up to $4,150, and families up to $8,300. Platforms like HealthEquity and Lively allow you to invest your HSA funds in the stock market for growth over time.

Final Thoughts
With these options, you can spread your $15,000 across different investments to diversify your portfolio. Always read the fine print and understand the risks involved. Remember, past results don’t guarantee future returns, so invest wisely.