If I’d known at 5 that our only child was going to join the military, I would not have allowed him to go to boarding school at 14. He’s 23 and never really came home again.
ETA: OMG. I’ve been here since he was 14. He’ll be 24 next month. 
We’ve been missing him a long time.
ETAA: We just let our son run amok all his young life. No sports or music or programs of any kind, just whatever he wanted to do. No regrets there.
I’m with everyone else - at age five it was about creative play, movement of some kind, music, and lots of reading. Almost all of it unstructured.
When I think back at what D was doing at that age, the only thing that stuck was music and reading.
Sometimes I worry that kids who are always running from one structured activity to another don’t know how to entertain themselves. We live out in the country and I didn’t want to do lots of extra running to town. The girls spent so many hours developing elaborate story lines with Barbies/Care Bears/Build A Bears etc. I did spend a lot of time playing with them but it sure helped that they had each other!
For activities prior to middle school, DD’19 did low key, no travel soccer. DD’17 dabbled in basketball and softball with a small amount of travel. They were also fortunate to go to a small school where everybody gets a chance to play in high school even if you didn’t commit to the sport at age 3.
One thing I wish I had done more is kick the kids out of the house. PLAY OUTSIDE! We live in the woods on a lot that backs up to a river. My husband built them a wonderful tree house that they hardly ever used. Electronics were just too tempting. If I had it to do over again, they would have been outside a lot more.
Good point about the sports.
I guess one thing you can do is finding out what the “no cut” sports at the MS and HS levels are. Most will promote lifelong wellbeing over competition, are likely to require less travel and pressure, and are likely to be cheaper. They’re a better investment than, say, travel soccer, and equally good as far as college apps go. So, if you’re thinking of her trying various sports, focus on the no-cut sports, plus activities that she may enjoy just for a season or a year. 
If you get her interested in long distance running, hiking, cross country… be aware that a 5-year old’s lungs&stamina will challenge many a non running adult (<experience speaking 
)
Keep in mind “long distance” is relative for a child, though. 1mile can be a big deal.
What a fun question!
a 5 yr old will change so much in the next 10 years - it’s the most dramatic period ever in life; a kid who can’t tie a shoe grows to be physically able to have their own kids within 10 years. Pretty much everything your kid likes now can easily change in those years.
I’d just set your standards to make sure your child focuses on reading and academics during the next 10 years. all the other ECs might come and go; but those will need to remain constant. KIS1014 above has a great list to follow btw.
In terms of sports, forget about them in relation to college recruiting. However, consider having her learn sports she can play and enjoy her entire life – tennis, golf, ice skating, skiing, riding.
I think 5 is way too early to know this. Way too early. I base this on having a D1 recruited major-sport athlete who I had no idea at age 5 would even make a high school team and who didn’t start playing club/travel in his sport until age 11. Plus seeing very good friends of our’s – non-athletes themselves – produce a D1 soccer goalie and, again, they had no idea at age 5, other than that their daughter was fairly tall.
However, golf, ice skating, skiing, and riding are all expensive. 
If there’s money to spend, I wouldn’t spend it on sports, except for basic fees. Money spent on family vacations (if money’s available) seems such a better investment
I think sports that can be learned together and practiced for free are the best - ice skating on the pond, pick up basketball, etc
It also depends where OP lives - ice fishing, atlatl throwing, va’a racing, rodeo, beach volleyball, boating would all give unique flavor to an application BTW. But it occured to me you cannot just go skate “at the pond” in many states.
“That he (older S) would not only learn how to eat, but he would become the most adventurous eater and cook of us all!” That would have saved me so much grief in those early years.
But seriously…
Show them the world. Show them what’s out there, as many possibilities as possible. And then PAY ATTENTION to you kid’s reaction. What do they like (not always what they are good at) and cultivate that while also showing them more. Don’t be afraid to try new things.
Don’t be disappointed if they don’t like what you want them to like. It’s their lives, not yours. And you might just learn something new in the process. Like how to tell the difference between and clouded and snow leopard. 
Let them learn how to struggle and lose and fail. The earlier the better. Let them see you struggle and fail and progress and grow.
Don’t get sucked into the club sports is the only way a kid gets into college mindset. Sports are super important for fun, life lessons, fitness - but college isn’t a realistic goal.
Take walks with your kids.
Down time is when the best conversations happen - make space for it.
Money!!!
Wish we had saved more
All the rest will fall into place
Encourage and model reading for fun. Don’t let your kid spend too much time in front of a screen. Find something to do on the weekends with the family that gets you all out of the house.
Kids do what their parents do so a couch potato, non-reading parent is not going to have an athletic or intellectual child. Model, don’t assign, activities.
myos1634 - you’re right with running/etc.
I will say some of my sons’ best friends came from XC/track. Even now, while in college and out of college they still see those friends. One of my sons was actually good, too. super slow sprinter; very good at stamina/distance. had no idea at age 5 he’d be a competitive runner. (although he had NO DESIRE to run in college!) It was a very good, team building, no-cut, no drama, non-subjective
sport to be in HS for sure.
It’s interesting everyone is saying reading. We did that organically daily. Especially at night.
But here’s one Chess. 5 year old is not too early says the chess dad. Lots of good books to teach. There are 4/5 move checkmate that kids do at this age to teach them how the pieces move. Then you block it and they have to start learning the game. Only issue is some young kids have problems with losing to another kid. But chess teaches you how to win /lose gracefully. Kids that are more mathematical tend to gravitate towards it. There are many young children’s books to get to get started. Make it fun… Many studies show chess leads to higher math scores, analytical thinking, how to deal with losing /winning and manners…
But if they show no interest. Move on
Most dollars stores have chess /checker sets.
Susan’s books are great. Read about her and her sisters https://www.amazon.com/Learning-Chess-Easy-Way-Beginners/dp/B000EYUQYC
I can’t think of any real regrets. Things I know I did right:
Recommended reading for you:
How to talk so kids can learn by Adele Faber and Elaine Mazlish
How children Learn by John Holt
Punished by Rewards by Alfie Kohn
Lots of good advice above, but I would add, keep them involved in activities at home so it becomes second nature that they are involved in everything from making and cleaning up after dinner to cleaning the house. Don’t call them “chores” and “make” them do it. Just call them in at dinner and have them set the table, get items from the fridge to help cook, help take out the garbage. If they become in the habit of jumping in to help, this will lead to leadership skills that will become apparent later in life and these skills will find their way onto a college application.
Also, have them become accustomed to helping others. At that age, it is hard to find community service that is suitable so you may even create opportunities such as picking up garbage on a walk, or making a meal for someone who has been ill, but make a point of talking to your child about why you would do this and include them in the process. If they understand that doing this worthwhile, they will have a huge advantage gaining skills by volunteering that will look great on a college application.
The key with both of these is it can’t be forced. They have to see the fun and they will do that by seeing the example you set.
I am shocked that there are not more comments about money. If you really want to do something that will help in your child’s college success, start worrying about money. Having a lot of freedom of choice and being debt free at graduation are two great gifts that you can give you child.
Maybe I am wrong but think the thread is about advice and what to do with the child. But yeah, start a 529 plan… Lol…