PRESENT.
Saving or creating an emergency fund. People keeps it at home, savings, CDs, high yield savings or investement account. Most recomended by economist are investment account where you can get as high as 13% dividends.
Another way to invest is using capital to produce in hobbies or own career.
When investing in stock market people can find it puzzling. There are small and some large scale brokers that are making it with in reach. Brokers like Sofi, Schwabb, Webull both offer fractional invesment ideal for starters.
The main question of the stater is how to do it. It all depend on the risk that wants to follow.
FUTURE
Wheather is for the near future like a new home, car, vacation, home improvement, school or just emergency fund one would go for high risk stocks. If its for the long run or Retirement one may choose low risk invesments. REITs are a great tool to get constant dividends which investments in real state. Index funds included in any of the big brokerage firms like Fidelity also give great dividend since they contain most of the big companies in their porfolio. The best for starters is investing in ETFs which are free commission.