(NC)—From stocks and bonds to mutual funds and GICs, deciding where to invest your money can be daunting for first timers when faced with a dizzying display of investment options to choose from.

But moving from saving to investing can be an effective strategy to help build your wealth over time, and most people are surprised when they speak to an advisor for the first time and find that investing doesn't have to be complicated or risky.

TD Canada Trust offers the following tips for first-time investors:

1. Start small — You don't have to invest large amounts of money at a time. Look for investment options that offer a low minimum investment. Investing small amounts regularly can make a big difference in the long run.

2. Diversify — This means you don't put all your eggs in one basket. Because most people don't have enough cash to buy a lot of different investment products themselves, buying into a mutual fund can be a good alternative.

3. Understand risk — Look for investments that match the level of risk you're comfortable with. Remember, investing doesn't have to be risky. Market linked GICs, for example, let low-risk investors take advantage of the higher return potential of the stock market while guaranteeing the principal.

4. Automate — A pre-authorized purchase plan will automatically invest a set amount at regular intervals from your bank account. Regular contributions let you benefit from compound growth, meaning you earn interest on your interest.

5. Speak to a financial advisor — An advisor at your local bank can help you map out your investment goals and develop a plan on how to achieve them. Consider products like mutual funds or GICs, which are managed by professionals on behalf of investors.