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Many Australians don't think about their financial future because they don't have the time, they find it too daunting or they think it's only for people who are close to retirement. The reality is though, the sooner you take charge, the sooner you can start working towards achieving better results (especially in the long term).

If you're looking to build a strategic wealth plan, here are the best wealth strategies for 2018 to ensure you can live comfortably in retirement.

Set goals

Setting yourself financial goals is a great way to ensure you're always in control of your personal finances. Whether you're looking to save towards a particular purchase or simply want to manage your finance so you spend less, using financial goals as a motivational tool can help you achieve your aims and even make you happier.

Take control of your superannuation

Besides your home, superannuation is or will be one of your biggest assets and it is very important to keep track of how your fund is performing and where your money is being invested.

Most investors know that keeping all your eggs in one basket is an extremely risky way to invest. Diversification across several investment managers, investment styles/beliefs and global markets not only helps to boost returns but also reduce volatility in the portfolio as each investment type reacts differently.

Compare your Super to other funds with our superannuation calculator.

Insurance

Do you need it, how much, where from?

You've worked hard to build a solid financial footing so you want to be sure that everything is protected. Accidents and disasters can and do happen, and if you aren't adequately insured, it could leave you (or your family) in financial ruin. You need insurance to protect your life and your ability to earn income, and to ensure you are able keep a roof over your head.

Salary sacrifice

One of the most effective strategies to help reduce tax and build wealth is to salary sacrifice. This involves putting extra money into your super fund from your pre-tax income which helps to reduce the tax you pay while also building your retirement capital. The higher your tax rate, the bigger the saving.

Wealth management

In life, everyone has goals they'd like to achieve  no matter how ambitious. Finding the way to do so can sometimes be a challenge. But wealth management is the process of putting together a bespoke financial plan that is specifically designed to help you reach those goals.

Wealth Management can be as simple as helping you to invest some of your money. It can also be much more comprehensive. A full financial review can take a close look at all areas of your personal finances, such as your outgoings or options to improve tax efficiency.

Above all, this type of service can help you take control of your future. It can make your money work for you and unlock numerous opportunities. But what exactly is wealth management? And how can Investec's dedicated specialists support you with your ambitions in life?

Wealth management explained

The financial services sector combines many disciplines and specialisms  including fund managers, financial advisers, or stockbrokers. But what is wealth management, and what is its role in your life? Simply, wealth management is the service that brings together all aspects of financial services in one, holistic package.

It is a process that's based entirely on your specific needs and ambitions. Are you looking to plan for retirement? Is the idea of owing Inheritance Tax (IHT) on your estate creating concerns? Or do you believe there must be a more efficient way to organise your finances? 

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