I already have emergency savings, the $5k is for me to throw around. I'll check out both Roth IRAs and the savings. And do you have a recommendation for a good online high yield savings account?
starting a Roth IRA early is a good idea for long-term investing. it won't get you rich quick, but there's not much you can do with $5k to get you rich quick. putting it away and crossing your fingers for 7-ish% average yearly return will take that $5k and turn it into $100k or so when you're able to withdraw. and as i mentioned, if you want the $5k back later, you can get it back, penalty free (though you can't touch anything more than the original $5k).