Brodie Haupt says long-term success comes down to time – investing in time in the market, and becoming more efficient with your finances.
Brodie Haupt, the co-founder of unique financial tracker and properlytics app WLTH, is dedicated to creating solutions to maximise time and allow people to find a greater balance in life.
The entrepreneur has learned all the tips and tricks to reducing the amount of time and stress people put into taking care of their finances.
Brodie spoke to KnowHow founder Bushy Martin on the Get Invested podcast about his plans to make money management easy.
Brodie believes having easily accessible, digital tools to monitor and analyse your finances is key to cutting many hours out of the management process, and changing your personal finance mindsets.
“It’s really about taking away the old filing cabinet, throwing all of that in the bin, and then making it digital, and it’s no more in-depth than that,” Brodie said.
By utilising these tools, they not only free up a significant amount of time, but they also allow people to easily (and quickly) make informed, ‘really good decisions’.
But the power of time goes well beyond an individual’s finance management. Brodie says having patience, resilience and belief in the benefits of long-term growth is critical when investing.
Brodie recommends one of the best ways to learn these key investment techniques is by investing in reading.
“The first thing I invested in was books … and people said that’s an investment in itself, but that’s investment in wealth because it teaches you really robust investment techniques,” he said.
After years of experience and improving his knowledge, one of Brodie’s key philosophies now to achieving long-term results is that it’s not about timing the market, but instead having time in the market.
And if you wait for the perfect time or you wait until you feel more financially comfortable, then you may never find the time at all.
“You think when you’re young, get rich quick, so you get every multi-level marketing concept thrown at you … in reality, we all know that if you keep those really simple and robust principles of investing, it’s investing over time,” Brodie said.
“You just look at cycles of property and you know that on average, every 7 to 12 years, property market doubles anywhere in Australia.
“You’ve just got to have time in the market, so there is no really wrong time to invest.
“And as far as I’m concerned no one can predict the market. You can give yourself all the key research, economic indicators, historical references and articles supporting information to make an informed decision. But no one really has a crystal ball.”
Listen to the full interview here.