I’d buy these 3 ASX 200 shares in 2023 and hold them for a decade

Since we’re now barreling towards the end of 2022, it’s a good time to look to 2023 and the ASX 200 shares that investors might want to buy next year.

The legendary investor Warren Buffett once said that his favourite length of time to own a share is forever. So with that sentiment in mind, here are three ASX 200 shares that I think investors can comfortably buy next year and hold for at least a decade.

3 ASX 200 shares to buy in 2023 and hold for a decade

Coles Group Ltd (ASX: COL)

Coles might not be the most exciting ASX 200 company out there. But that’s exactly why I think this share could be a long-term winner.

Coles is a dominant supermarket chain that supplies millions of Australian households with food, drinks, and other household essentials. I don’t see any reason why Coles won’t be fulfilling this role for a larger Australian economy in a decade’s time.

Coles is also a formidable ASX 200 dividend payer, offering investors a fully franked dividend yield close to 4% right now. Some brokers are expecting these dividends to rise materially over at least the next few years too.

Telstra Group Ltd (ASX: TLS)

Next up is another ASX 200 name we’d probably all be familiar with. Telstra is the most dominant telco in the country, with market share statistics across both fixed-line and mobile communications that are the envy of its rivals.

It’s probably fair to say that internet usage is only going to keep rising over the coming decade. And you can bet that Telstra will be one of its key facilitators. This is a company that I see as having a recession-proof earnings base, thanks to the inelasticity of demand for internet services.

The recent restructuring could also provide an avenue to a higher valuation thanks to the importance of its core assets like its mobile towers. Telstra also offers a strong, fully franked dividend, which is over 4% right now as well.

Westpac Banking Corp (ASX: WBC)

Finally, let’s check out the ASX 200 banking giant Westpac. As a member of the elite big four banks, Westpac has a firmly-established share of the banking and financial services market in Australia.

If the Australian economy is larger in ten years than it is today (which is highly likely if we look to history), it’s a good bet that Westpac will be too, thanks to the pivotal role the big four plays in the financial fabric of this country.

Westpac has paid strong dividends for most of its history, and again, some ASX brokers think that its current dividends (currently offering more than a 5% fully-franked yield) will keep growing for at least a few years. 

All in all, Westpac is the third share that I think an investor can comfortably buy in 2023 and hold for at least the coming decade.

The post I’d buy these 3 ASX 200 shares in 2023 and hold them for a decade appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group and Telstra Group. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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