Five Safest Places to Park Your Money Right Now

The stock market had some wild swings again this week and the nation's economic outlook remains decidedly uncertain.

So what's an investor do to? Where can you put your money and sleep soundly at night, knowing it's safe but yielding nice returns?

CBS News Business and Economics Correspondent Rebecca Jarvis offered five suggestions on "The Early Show Saturday Edition."

First, she told co-anchor Chris Wragge, "You really have to be selective and give yourself a broad basket of things. Don't put all your eggs in one basket and know that, when you give that money up beyond the bank, beyond underneath the mattress, principal protection is not always easy to do and not always guaranteed."

But, she said, there are five relatively lucrative safe havens you might consider:

"Blue chip, dividend-paying stocks are some of the more conservative stocks out there. They're companies like Johnson & Johnson, Wal-Mart, companies that have withstood the test of time. These companies ... tend not to give major upside to investors, but they also tend not to give major downside, and that's what you're looking for in a market and economy like this.

"If you have a struggle in terms of picking out the dividend plays you're looking for, you can find a fund ... that will give you access to all the dividend stocks out there, and that's a good thing to do, too."

"Corporate bonds are IOUs from companies saying, 'We'll pay you back your principal over a period of time with a particular rate of return on that period of time.' And what you want to think about when you're looking at corporate bonds on the conservative side is look for companies with a rating of 'A' or higher. This is their rating from the financial overseers in the markets, and they're telling you these are companies that are healthier than some of the companies out there."

"Floating rate funds are funds that are going to pay you more as interest rates go higher. Right now, interest rates are at all-time lows. so what you can basically safely bet is that, out in the future, rates are going to be going higher and you will make money on these funds over the course of time."

Stable value funds "are something you're going to find in your 401(k). So, if you're invested in a 401(k) at your company, look for a stable value fund. They're one step above your cash savings, your money market savings and tend to return a little bit more. Last quarter, they did about 3 percent in terms of returns, and they're stable."

High-yield savings accounts (at a local bank, often a smaller one) "are a really good thing in terms of keeping your money and growing it a little bit faster. High-yield savings accounts can be found beyond your community bank at Bankrate.com, so check it out, because they're about double what you would get from a normal savings account."

Asked about fears sparked when the financial crisis was at its peak that smaller banks might go under — fears that led many to put their money in the bigger, brand-name banks — Jarvis confirmed it, but pointed out that, "Now, under the new financial regulatory reforms (just signed into law this week by President Obama), we have a guaranteed protection on $250,000 in the bank, at any bank in the United States, FDIC (Federal Deposit Insurance Corporation)-insured."