@Archer did a nice job summing up different investment vehicles and advising on creating an emergency fund.

But I think he missed a crucial point that may be a deciding factor before you start putting your hard earned money.

I would broadly divide financial goals into two groups:
1) Short term goals (0-5yrs):
- Buying a house within 5 years
- Getting a Tesla

Asset allocation:
- Less risk, low return investments
- Savings account
- Certificates of deposit (CDs)
- Notes, Short term bonds

2) Long term goals (5yrs+)
- Buying a house after 5 years
- Saving for retirement

Asset allocation:
- High risk, high return investments
- Stocks, options, and futures
- Mutual funds, index funds, ETF
- Private money lending, Real Estate (REIT) and FOREX

For example, if I am planning to buy a house next year, I won't go all in 100 percent in stocks. I will also shy away from maxing out my retirement funds (401K, IRAs) if I am short for a down payment. But you should take advantage of your employer's 401(k) match if you qualify for one. Never leave free money on the table.

tl;dr Determine your goals and financial status before investing.