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Well, this question is easiest to answer by eliminating the forms I do not prefer. Those are real estate, gold, forex, and commodities. Each for a different reason. That leaves mutual funds, bonds, and stocks. At the moment bonds are not on my shopping list. The returns are negative currently. So I am stuck with mutual funds and stocks. Mutual funds offer the advantage of diversification and very little specific risk. They have the disadvantage of expenses and relying on someone else's judgement which may or may not be up to par. However, for certain areas mutual funds offer decided advantages over stocks, such as mutual funds that invest in Indian companies or Chinese companies for example, areas where their expertise should be vastly superior to mine. Mutual funds also offer the advantage of making it relatively easy to make an investment. It is somewhat a simpler process to find a good mutual fund than to find a good stock.
Real estate: using a REIT as a real estate investment vehicle has advantages that should be considered. I consider that under the heading of investing in stocks.
Gold: Investing in the stock of a gold mining company would be my preferred alternative.
Commodities: DE would be my preferred agriculturaly commodity investment. COP or DVN or CHK my preferred oil and gas commodity play.

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