There are lots of ways to invest that don't involve property.

Firstly, what is the goal? You should always be investing for a specific goal. Without one, you will not be able to figure out the right place for your cash. Hang on... Can't I just invest and figure it out later? I mean you can. But its like putting the roof on a house that has no foundations or starting a road trip but not knowing where the hell you are hoping to get to. It works for some people who are happy to go where the wind takes them... but for most of us, we need a destination in mind, knowing there could be a few detours along the way (hello roadside jam stalls!).

Consider:

GOAL TIME FRAMES:

Defining your goal time frame is a very important step, because short to medium term can mean different things for different people. I think of short term as next 12 months, medium term for me is within the next 5 years. This then helps you pick the right mix of conservative/growth weighted investments.

TAKING RISKS:

Just being alive means you have to navigate risks. We often just don't give them a lot of thought, like driving a car, going on a date, saying yes to a trapeze class despite being terrified of heights (yes, I survived and even managed to let my arms go and have someone catch me. Terrifying).

Investing is no different. Keep it in cash? There is inflation risk (the idea that in real dollar terms, your money isn't keeping up with inflation). Invest in sharemarkets, there is volatility risk. Go all in on just a few companies, there is concentration risk. Investing overseas? Currency risk.

My very general rule of thumb, is the shorter the time horizon for your goal, the less risk it can handle. I would say almost all short term goals are likely to be kept conservative (read, money in a high interest savers or term deposits)... because you get the certainty that when you need the cash, it will be there.

For medium/long term goals you might consider a few of these options:

SHARES: A share (or a stock) represents part ownership in a business and entitles the investor to a stake in the financial benefits of company ownership. Consider if you have the time, skills and interest in picking companies to buy shares in.

ETFS: An exchange-traded fund, is a fund that can be traded on an exchange like shares. ETFs allow investors to buy and sell a basket of assets (like a Aussie ETF, or an International ETF - or you can even buy ones that are a mix of many different funds) without having to buy all the components individually. Good for ease, cost and diversification.

MANAGED FUNDS: Managed funds pool the money of individual investors with the combined capital being invested by a fund manager that can invest in a range of asset classes such as shares, bonds, property and infrastructure assets.

How much risk you take in all of these is worth considering too... 5 years sounds like a long time, but its not really if we need to wait for markets to recover from a dip. There is plenty else you should consider here... I developed a G.A.R.D.E.N investment methodology which I cover in Week 6 & 7 of The Greenhouse - to make sure you have a well thought out plan before you invest.

Have a money dilemma?

Money dilemmas can be a nightmare! They can leave you up all night ruminating about what to do, have you feeling alone and isolated or just plain ol' stuck. So, we are here to help. I am going to tackle one a week and give you my unbiased, no BS general thoughts on how to tackle your conundrum. We would love for you to send yours (or someone you know) in. 

Obvs all of this is general advice only... especially important to note any and all of the comments above do not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs.