A good wealth coach can advise you on multiple assets

As a working professional, you've probably looked at your salary account and realised you really need to invest your money. Sadly, you have neither the time nor the knowledge to make an informed investment decision. Of course, you're not the kind who would squander away their savings by investing in something you don't completely understand yet.

So, here you are, exactly where I once was wondering what to do next. Let me start by saying, you need two things to grow yourself a wealth tree.

1) A small savings plant sowed in the right soil

2) Some regular watering for fruity returns.

Let's do a pseudo SWOT analysis of your situation. Your strengths are that you bring home a steady paycheck, so your income is predictable. You also have a fair idea of where your money goes. That means you can afford to invest a certain amount of money each month if you want to. Your weaknesses are that you don't have the time to actively invest and keep track of stocks, shares, the Sensex and all that razzmatazz. Most importantly you don't know where to invest.

Your opportunities are boundless from mutual funds to gold, property and more. However, the need for liquidity in case of emergencies coupled with the fact that not all investment instruments beat inflation are a threat to you. Plus, you don't know how to find the right funds - the best ones are well-kept secrets.

Great, that gives you a sense of what your risk profile is and what you can't do. So, now let's talk about what you should do and what you'll need to grow substantial wealth. You'll need to invest in Mutual Funds using a SIP - a Systematic Investment Plan. This gives you the ability to start small and gives you the flexibility to liquidate assets if there is (god forbid) an emergency.

But you're busy so you'll need a fair bit of help and guidance. Don't be shy, seek help. Just like you need a doctor when you're unwell, you need a Wealth Coach to ensure your investments give you healthy returns. A good wealth coach can give you the right asset portfolio using not just a mutual fund but multiple assets. They do this based on your risk appetite and time horizon.

Luckily you can still gift your dad his dream car, give your children the lifestyle you never had and take some of those fancy vacations you dreamt of through college.

You just need to invest smartly. Which you can with just 3 main things:

1) A wealth coach

2) An investment manager

3) A magic pill to automate investments

That probably sounds awfully unaffordable but it isn't. I could say you can do this all by yourself but I'd be lying. I've worked with some of the brightest minds in the Fintech business and even they didn't have the time to do this right. A good way to solve this problem would be to use a solid wealth management app.

Something that would give you free access to the world's best Wealth Coaches, Investment advisors and automate the whole investment process. All you'll need is patience and the same amount of time you'd spend in booking yourself a cab. You see, significant wealth creation can happen only over the long term. So what you need is a focussed set of investments decided based on your financial goals, risk appetite and current financial commitments.

Ideally, you should invest in some funds for long term gains, some for short term goals and some to create wealth while saving yourself some tax. However, half knowledge can lead to serious losses for the uninitiated. Which is why I strongly advise both new & seasoned investors to work closely with a wealth coach. After all, there is no replacement for expert guidance.

The writer is founder & CEO of Cube Wealth