You should do both. Always diversify in as many ways as possible. Invest short-term as well as long-term. Invest in different sectors. You never know if a company might blow up in the next 15-20 years, like Apple or Google did, or that plot that you bought 20 years ago. First build up a decent buffer (some people prefer expenses for 6 months or 3 months, depends on your income and monthly expenses), and keep it aside for rainy days. Then build up some savings, then decide how much of that money you won't need in the near future, put that amount toward investments of all sorts. Obviously, rest is up to you.