Diversification through investing. Earlier, I mentioned your time horizon. If you are planning a big vacation that’s with a longer time horizon, say, three to 10 years out, you might take on some stock market risk. You could buy an ETF that tracks the stock market, as it has the benefits of diversification across industries. You can help reduce risk by looking for a balanced ETF or mutual fund that includes, say, 40% stocks, some fixed income and potentially some other asset classes. A third alternative is consider using a robo advisor for this type of investment.