IRA Means you can't touch your money. CD is shit. You are better off with capital one 360 aka ING DIRECT. Which I believe is .85%? Return. You could also put some of it into s money market/mutual fund. They can earn 5-10% a year if you get really lucky. 1-4% is more common.
Save your money. Keep it somewhere where it earns something and take your sweet time on getting into something. this audio/friends business sounds worse than getting married to a stripper you met last week that has an awesome stash of white powder.