Here's how I can direct an income of £54,252 through UK dividend stocks

There is no one-size-fits-all approach to creating long-term wealth through UK growth and equities. However, if I were to start investing today, I believe this strategy would help me build a large retirement nest egg.

Reduce costs and taxes

Before looking at any specific stocks, I thought about what investment product I could buy to help me achieve my goals. Even if I choose the right stocks, I can limit my profits in the end by not thinking about reducing expenses and taxes.

Here is the first thing to remember. Trading fees and other costs can vary greatly from seller to seller. Share the cost of shopping at Hargreaves Lansdownefor example, it can be as high as £11.95 per trade. At Trading212, equity trading is free.

For active investors, this over time can eat into returns. Not that I'm saying the low cost vendors are a better choice though. Some platforms offer services and trading information that one may be willing to pay for.

I can also increase my trading profit by using tax efficient financial products. A Stocks and Shares ISA, for example, allows someone to buy £20k worth of securities each tax year without paying capital gains and dividends tax.

This can save thousands of pounds in just one year.

The annual tax-free Social-Invested Personal Pension (SIPP) allowance can be even higher. This equates to an investor's annual income of up to £60k.

Please note that tax treatment depends on the individual circumstances of each client and may change in the future. The content of this article is provided for informational purposes only. It is not intended to be, and does not constitute, any form of tax advice. Students are responsible for conducting their own due diligence and obtaining professional advice before making any investment decisions.

Income £54,252

Next, I will look at building a diversified portfolio FTSE 100 again FTSE 250 shares. The benefits here will be twofold. I can direct steady gains from the Footsie index of mature companies, and huge capital gains from hundreds of mid-cap growth stocks.

In recent decades, the FTSE 100 has delivered annual returns of 8%. The FTSE 250, on the other hand, has produced a gain of close to 11%.

With an equal amount invested in all these indices, I can enjoy an annual return of around 10%. It's the kind of return that provided me with a healthy income in retirement.

Let's say I spend £400 a month building my portfolio. After 30 years I would have, based on that 10% figure (and with dividends reinvested), a portfolio worth an outstanding £904,195.

If I were to reinvest this in dividend shares at a 6% yield, I would enjoy a second annual income of £54,252. That's assuming City's dividend forecasts are correct.

FTSE 100 Champion

Unilever's (LSE:ULVR) is one FTSE 100 share I will buy to help me reach this target. Diversification is important to help me reduce risk and enjoy smooth returns over time. And this company has this in spades.

Not only does it make a wide variety of products (from soap and bleach, to mayonnaise and deodorant). It also sells its products in 190 countries around the world. This protects the group's profits from weakness in certain areas or in certain product categories.

Competition is fierce, and the risk of losing shares to lower-priced products or your own. But Unilever's wide range of energy labels are similar The Lynx again Persil reduces this threat. It also provides excellent pricing power to help a business increase revenue even when costs increase.