For the average investor, who doesn't have copious amounts of time to do research, a low-cost index-tracking ETF would be one of the best investment vehicles.

For the average investor, who doesn't have copious amounts of time to do research, a low-cost index-tracking ETF would be one of the best investment vehicles. You would want to tailor your asset allocation to match your risk profile. Furthermore, your timeline (i.e. when you will need access to the funds) will affect your asset choices. If you have a short amount of time (less than five years) it's usually too risky to have a high or even moderate exposure to equities. In fact, if I knew that I would need to spend the money within five years, I would keep a large percentage in safe (i.e. guaranteed) investments.