I own a condo and am thinking about buying a rental property. I have no debt and 6 months saved in a money market account. I own several stocks already. The stock market has out-performed all other investments since 1926, and that includes real estate. What that says is that there are times when real estate can present a really good investment opportunity.
Many people are successful real estate investors.
The major thing to keep in mind is the ongoing costs associated with rental properties, as well as the time and attention that one must devote to rental property-type investments. If it's in an individual retirement account, I am assuming this is not money for an emergency. Without more information, my initial suggestion would be to remove those assets from cash to, at least, a higher-performing bond fund. I am 62 and semi-retired. Would like to be completely retired.