Brad Smith sits down with Vivian Tu, the CEO and founder of “Your Rich BFF,” to discuss her mission to make personal finances accessible for all and her top tips.

Tu says the best investment strategy is to “invest in a diversified portfolio that is risk-adjusted and makes sense for your age and your financial situation, and buy and hold. Hold it for the long term.”

She explains, “It's critically important that you don't attempt to cherry-pick the perfect stock or the perfect investment. As someone who has worked on the Street, we would get phone calls pretty regularly from hedge funds being like, ‘Hey, we made a couple of bad calls’... if funds like that have very literally billions of dollars of technology and resources at their fingertips can't seem to get it right year after year, what makes you think you can?”

“You must invest to get rich. You can't save your way to rich anymore. But people are like, okay, well, when it comes to investing, I got to pick the account. I got to fund it with the cash. I got to then pick the investments. And it's a long process, and people get scared. They get paralysis by analysis.”

Tu recommends finding a robo advisor so “all you have to do is find one that suits your needs. You take a quick money quiz about how much you earn, how much you have, how old you are, what your life looks like, all of these details about you in the same way that Spotify can put together a playlist that makes sense based on your listening history, a robo advisor can take your financial information and then spit out a diversified portfolio that makes sense for you, and it all happens within 45 minutes, and you're invested.”

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Naomi Buchanan.