What to do with savings in the meantime ?

[Maximo Jacobo]

Hello Bigger Pockets folks

I am new to real estate and plan to invest in the market a year from now (when I am financially better on paper). I am currently working on my education and my finances. However, in the meantime, I would like to use my savings that are parked (in high yield savings accounts) possibly in index funds, because the interest rates that I am getting are not enough.

Considering that I never had an investment account like IRAs, 401k, etc. Would investing in Index Funds be a good idea without any of these accounts? Are there other options that would allow me to earn at a minimum 5 % return back?

Thank You In Advance for any advice