I think this question is on a lot of people's minds. It is definitely on mine. Between my bonus and then a CD that comes due in March, I have to find a place to park a decent amount of money. I am not sure where to put it. I don't want to earn minimal returns that most of the no-risk places like CDs are throwing off right now, but at the same time I don't think I want to dump the money into the market. Stocks are so volatile right now, and I keep hearing that interest rates are going to rise and bond prices go down.
One "alternative" investment that I have begun is Lending Club. So far only a few thousand dollars, but I like what I've seen. The one thing I don't like is that the terms are so long. I think like 3-5 years. Would probably be better for a 401K investment.
The other thing that I've really been meaning to do is diversify by currency. I've checked out Everbank products, but they seem kind of risky.
This will be an ongoing question I try to answer over the next few months.