If you have money left, where would you invest?

So if you have money, and want to actually invest in something still what would you do?

Before I answer that, let me just say that my parents grewup as children of parents that survived the Great Depression and the Dust Bowl of Oklahoma and as adults themselves survived the exodus of jobs in Oklahoma when all of the Oil Companies left the state in the 80's. They never have really invested other than, their home, some rental properties, and high interest CD's and Money Market accounts. They have saved some, but I am uncomfortable to think how much. Their current jobs are secure and they are close to retirement. I know that my brother and I wish they invested more, but now think at times maybe they might have been fairly right all along. I mean they have seen some of these economic times on a micro-economic level in Oklahoma and experienced the psychology of their parents in the aftermath of the Great Depression, and learned what is really true: money and stuff you own, and real estate.

Which gets me back to where do you invest in this market, that will have the best chance of returning a profit in the years to come? Me, I am leaning towards real estate. I know it is crazy, but prices are at a value and if you truly know your town, and make logical property purchases over the long term you could really do well. Nothing is a guarantee, but if you are truly a long term investor, it may be just the right way to go.

Thoughts???