There are many ways to buy your time back in your professional and personal life, says Brodie Haupt.
The founder of the WLTH Finance Tracker and Money MGMT tools is invested in helping others buy back time in all areas of their lives.
Brodie told KnowHow founder Bushy Martin on the Get Invested podcast that he’s ‘always trying to find ways to save time’ and buy back time to spend with family.
He said the best ways to manage your time and lower your stress levels are to prioritise your tasks, have self-disciple and establish effective processes that work best for you.
“One thing that I hate, particularly with team members, is when they say ‘I don’t have enough time’. Time is in high demand and it’s probably our most precious commodity. But when someone says, ‘I don’t have enough time’, for me, all I hear is ‘it’s not important enough for me to do’ or to focus on or not prioritise,” Brodie said.
“So with managing stress levels, it’s understanding and creating self-discipline about knowing what process works for me, what process do I have to undertake to get the best performance out of myself. And being super self-aware when you are pushing those boundaries.
“For me, it’s noticing or understanding that I probably can work really well for maybe three to four hour period a day. And that’s it. It’s better to perform on that level than it is to try and perform for 10 hours at 50-60%.
“Time is in high demand … you’ve got to treat it as a commodity to make sure that you can perform, because human performance and time go hand in hand.”
Outside of your business, Brodie says you need to select the best personal investments which will buy you back time in the long term.
“There’s personal investment from a money perspective. So what am I investing in? What are you investing in to help ourselves buy back time for the future to spend more time with our family and friends? So that is investing in what we call really stable and cornerstone type investments,” he said.
“So into the property market, ensuring that we have a footprint in the market where we can generate a passive income. I think it’s really important for every Australian to take that approach when it comes to their investing journey.
“I’ve seen it all too often where people might have a couple of hundred thousand dollars that they’ve saved up to buy their first home or an investment property or both. And then they’ve gone and dumped it on either cryptocurrency or a share tip, hoping that they could double or quadruple or triple their money or, you know, 10x their money in that time. And, more times than not, that’s not their area of expertise. They fall flat on their faces.”
Brodie said it’s not about timing the market, but having time in the market.
“Something we hear from our client base all the time is ‘what’s the next best area? What’s the greatest property type that I could buy that’s going to give me the best return and the most capital growth over a short period of time?’ And our answer is, it’s not about timing the market per say,” Brodie said.
“It’s about time in the market. And I truly believe that making sure that you give yourself the longest time in the market will ensure that you’ll have greater success.”
Brodie also strongly believes that another important component to buying back time and getting your investments sorted is to broaden your knowledge and make the next step in your investment journey now.
“Make it a priority to get your finances in track, or start that journey at least by now. You can speak to friends and family and see what they’ve done and who they’ve worked with. Or you can reach out to a company not too dissimilar to yours and start having those conversations,” he said.
“Ultimately you’re in control of those decisions. And it’s really about information collection. So if you can go speak with one company, why wouldn’t you go speak with two or three companies, make a decision on who you feel most comfortable with based on the information that they’ve given you.”
Finally, for those who feel anxious about losing time or missing their opportunity, especially when looking at others accomplishments, Brodie reassures that it’s never too late to make that next step.
“One thing I found and a lot of our team have found along the way is people in today’s society find themselves comparing themselves to other people,” he said.
“So never compare your situation to someone else’s. You may have friends that invested 10 years ago and you think I wish I’d done that or I missed the boat. There’s no such thing as missing the boat. Even if you’ve got five years to retirement, there’s still some time there to make the change, to have a better outcome in five years time.”
Listen to the full interview here.
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