With all the noise in markets lately — rate cut speculation, inflation updates, tariff wars, and global tensions — it is easy for investors to get caught up in short term moves.

But despite the headlines, one thing hasn't changed: long-term investing still works. And for ASX share investors, building a portfolio of quality businesses and holding them through the ups and downs remains one of the most reliable paths to wealth.

Let's see why this tried and tested investment strategy could be the way to grow your wealth.

The power of compounding

One of the biggest advantages of long-term investing is compounding — where your returns generate returns over time. This can be especially powerful when any dividends are reinvested into strong companies that keep growing year after year.

For example, if you invested $10,000 in an ASX share portfolio that delivered an average annual return of 9%, it would grow to more than $56,000 in 20 years. Extend the time horizon and the gains become even more impressive — but only if you stick with it.

And that doesn't include any additional contributions. Keep adding to your portfolio and your wealth could balloon.

Weathering volatility

No one enjoys watching their portfolio fall during a market selloff. But periods of volatility are normal — and often present the best opportunities to buy quality companies at discounted prices.

History shows that the ASX has always recovered from downturns. The key is not trying to time the bottom, but staying invested and focusing on businesses that can keep delivering through the cycle.

What to look for in a long-term ASX investment

If you're building an ASX share portfolio for the next 10, 20, or even 30 years, here are a few qualities to consider:

• Strong competitive advantages
• Consistent earnings growth
• Robust balance sheets
• Industries with long-term tailwinds

The likes of CSL Ltd (ASX: CSL), Wesfarmers Ltd (ASX: WES), and REA Group Ltd (ASX: REA) are examples of ASX shares that have rewarded patient investors over the long term. While they may not be the cheapest stocks to buy at times, their quality tends to shine through over the years.

Foolish takeaway

The share market will always have its swings, but long-term investing isn't about reacting to every move. It is about identifying great companies, backing them with conviction, and letting time do the heavy lifting.

Overall, when it comes to building wealth with ASX shares, time in the market still beats timing the market.