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This method covers Word 2007 or later on a Windows, and Word 2011 or later on a Mac. If you don't know your version number, here's an easy test: if there's a "ribbon menu" of icons above your open document, follow these instructions. If there's no ribbon menu skip to the next method instead. If you only see a row of tabs labeled "Home," "Layout," etc., click on one of these tabs to expand the ribbon menu. Click the Text Box button on the ribbon menu. This is under the Insert or Home tabs, depending on your version of Word. Click on the text box and type in the text you'd like to rotate. Notice that clicking on the text box makes a border appear. Look for a line that extends above the border of the text box, ending in a circle. Click and hold this circle. Move your cursor while holding down on the circle to rotate the text box. After rotating, when you click the box to edit the text, it may snap back to the normal orientation. This is just to make it easier for you to see what you're doing. It should return to the position your chose after you click outside the box. Hold down Shift while rotating to limit the possible positions. This makes it easier to rotate to even 45º or 30º angles, and to make parallel text boxes. If you're having trouble achieving the look you want, try rotating using menu commands instead:  Double-click the text box to open the Format ribbon menu, or select the Format tab. Click the Text Direction button in the ribbon menu. In some versions this is a small, unlabeled button with an image of vertical text. Select one of the options from the drop-down menu.
Check your version of Word. Insert a text box. Type in the text box. Click the circle above the text box. Drag to rotate the box. Hold Shift for cleaner rotating. Use menu options instead.