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However, your job doesn't begin or end with hiring an expert (remember, it is your money). The first step, reckon advisors such as Jaya Nagarmat, who runs Investor Shoppe, a Mumbai-based advisory, is drawing up a financial plan that looks at an individual's life from the investing and expenditure point of view. Based on milestones such as marriage, children, or buying a house (not all these decisions are planned ones), investors should then decide how much money they will put away, and when. Smart investors should be able to draft a financial plan that lists income, expenditure, future cash flows, and the like; not-so-smart ones should probably seek the help of a financial advisor at this stage itself. Step three involves understanding various investment instruments. Magazines such as the one you hold in your hand will help, as will financial dailies and personal finance websites. Then comes a session with a certified financial planner (CFP), a genus that is just making its presence felt in India. A CFP will, for a fee, help you refine your financial plan. "The result will not be a get-rich-quick recipe. It will likely be something that enables a smooth transition to investors as they move through various stages of life," says Aniruddha Sengupta, proprietor, ISE Personal Finance Services. Remember two things: the old computing adage GIGO (Garbage In; Garbage Out) holds true here, so if you insist on returns in excess of 25 per cent every year, the CFP has no option but to suggest a strategy heavy on equities that could well see you lose your little all. Two: do not decide to manage your investments yourself as the amount is small; "If you lose that money by investing it in the wrong instrument, you can never get it back," says Rajat Jain, Chief Investment Officer, Principal Asset Management Company.

The good thing about investment advisors and financial planners is that there are enough going around to cater to the needs of all wallet sizes. Not so portfolio managers who insist on a minimum investment of anything between Rs 25 lakh and Rs 50 lakh. The problem with portfolio managers is that most specialise only in securities (stocks and fixed income instruments). Still, those investors overweight on equity would do well to retain the services of one: better portfolio managers can squeeze higher returns out of most stock portfolios. Bottomline: seek chartered accountants for advice on tax-related issues; insurance agents after you have decided what kind of policy to take out, certified financial planners for any investment-related advice, and portfolio managers for handling that heavy portfolio should you possess one.