Most advisors recommend dividing investments among equities, bonds, gold, and real estate funds, so as to spread the portfolio risk. Real estate has been the preferred asset class for decades. Wealth managers typically advise 10-15% allocation to gold. Your asset allocation is entirely dependent on your risk-taking ability, outlook of the asset class and ability to stay invested through bad phases. What portion of your portfolio are you willing to expose to volatility? Would you be comfortable having 30%, 40% or 50% of your portfolio in equities? That should be the guiding factor to decide asset allocation for every class.