Steps to financial success

Are you looking to build your wealth?  

If you want to build your wealth ASIC's MoneySmart website has tips and tools to help you. The sooner you start taking action on your finances, the sooner you'll reach your lifestyle goals. Find out how you can work towards a bright financial future.

Check if financial advice can help you

Financial advice can help you clarify your goals and set a plan in place to help you achieve them. Here are some steps you should take if you're considering financial advice or already dealing with a financial adviser.

Work out what you need

Be aware of the types of financial advice you can get to work out what sort of advice you need. We explain the difference between simple one-off advice and a comprehensive financial plan.

We also explain how to choose the right financial adviser and check their employment history using ASIC's financial advisers register.

It pays to be prepared

The more prepared you are before you see a financial adviser the more likely your discussion will focus on what you want to achieve. Read our tips on how to prepare for working with an adviser.

Assessing advice

Before you act on the recommendations of a financial adviser, it's important to understand the advice and assess if it's right for you. 

Video:  George and Mary get financial advice

Video about financial advice.

George and Mary have worked hard all their lives and want to be sure they invest their money wisely. Check out their tips on how to ensure any financial advice you receive is right for you. 

Read our Financial advice and you booklet to find out what kind of financial advice you might need, where is the best place to get advice and how to get the most from your conversations with a financial adviser.

Consider investing

If you are thinking of building an investment portfolio, it's important to make sure you understand and follow our golden rules of investing.

Understanding the risks associated with various types of investment is essential to ensure your investment decisions match your goals, timeframes and risk tolerance. Read our webpages on important concepts such as diversification and the risk/return trade-off.

See how much you know about the risks of different types of investments.

Investing challenge

 We also have guidance on all kinds of investment products and options:

Video: Sophie wants to invest without too much risk

Video about investing.

Sophie is keen to build an investment portfolio but wants to ensure she grows her money without taking on too much risk. Check out her approach to smarter, safer investing. 

Read our Investing between the flags booklet if you want to understand how investments work, develop an investment plan and avoid financial scams.

Sort out your super

For many people, super will be the main source of income in retirement, so it makes sense to have a pretty good idea of how much you've got and how it's performing. The earlier you take control of your super, the more you'll have in retirement. 

We have some great, easy to use online superannuation tools to help you work out what your retirement income will be.

If you find you are not on track for the kind of retirement you want, focus on ways to boost your super now.

Video: Bill and Suzie sort out their super

Video about superannuation.

Bill and Suzie are sorting out their super so they can have the lifestyle they want in the future. Check out their tips on the simple steps you can take now that can make a big difference later.

Find out how you can:

Get your debts under control

The figures for average credit card debt show that too many Australians are carrying more debt than they can afford. Getting your debts under control is an essential step towards creating a brighter financial future.

If you are not paying off the full balance on your credit card each month, you are paying too much.

Work out how you can reduce the balance more quickly and save on interest.

 Credit card calculator

Our budget planner can also help you work out how much money you can put towards paying off your debts so you can be debt free faster.

Know where you stand financially.

Budget planner

Video: Ron takes control of his debts

Video about credit cards.

Ron explains how he's reduced his stress levels by getting his debts under control. He uses our credit card calculator to work out how to reduce his credit card debts.

Whatever financial goals you have, we have the tools and guidance to help you.

Related links

Last updated: 03 Dec 2018