Turning all your money to bitcoins is not a smart move. Bitcoin investment cannot be readily liquidated and may take sometime so it will be a problem in cases of emergency that you'll need readily available money. Always invest what you do not need immediately and keep a certain amount at hand, you'll never know when you'll need it. Also there are still only few establishments/businesses that uses bitcoin.
Here in our country I only know one application to convert bitcoin to cash. That is why I think it is risky because there is a chance to lose everything you invested. That is why in my case, I invest only the bitcoin I earned in this forum. I am not buying bitcoin from my savings.