3 Australian shares to buy and hold forever in your ASX portfolio

Recommending Australian shares that an ASX investor can buy and reasonably expect to hold forever is no easy task. After all, forever is an awfully long time. Predicting what might happen on the markets tomorrow is difficult enough, let alone what a company might be trading for in five, ten or 20 years.

However, that won’t stop us today. As the legendary Warren Buffett once said, “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years”.

So with that in mind, let’s talk about three Australian shares that I think are worth buying and holding today for a lifelong investment.

3 Australian shares to buy and hold forever

Woolworths Group Ltd (ASX: WOW)

First up is a company we’d all know well, I’d wager. Woolworths is one of the most prominent businesses in Australia. It boasts the largest network of supermarkets and grocers in the country and also owns the Big W department store chain.

My investing thesis for Woolworths is simple. More Australians choose Woolworths to shop for life’s essentials than any other consumer staples company. I don’t see our need to continually eat, drink and stock our households going away any time soon.

As such, I think this high-quality business is an Australian share you can comfortably hold forever. A recent share price dip doesn’t hurt either.

JB Hi-Fi Ltd (ASX: JBH)

Next up we have another popular shopping destination in JB Hi-Fi. This ASX 200 retail stock has proven to be something of a weathervane in recent decades. If you visited a JB store 30 years ago, you’d probably find it stocked with the latest hi-fi equipment.

But JB has proven it is highly adept at moving with the times. Today, it stocks far more consumer electronics, phones, computers and home appliances than hi-fi equipment (although the vinyl records aisle is still popular in most JB stores).

This Australian share has proven that it has what it takes to survive and thrive in today’s modern economy. I fully expect shoppers to flock to JB for decades to come.

iShares S&P 500 ETF (ASX: IVV)

Finally, we have an exchange-traded fund (ETF). The S&P 500 Index is the most widely-tracked index in the world It consists of the largest 500 shares listed on the US market. That’s everything from Apple, Netflix and Amazon to Adobe, Ford and PepsiCo.

Although the iShares S&P 500 ETF is an index fund with no exposure to Australian shares, I still think it’s a great investment for any ASX investor. The S&P 500 simply holds most of the best companies in the world. It has delivered meaningful returns over many decades. Even Warren Buffett has recommended it as an investment suitable for almost anyone.

Buffett has advised all investors to ‘never bet against America’, and so this all-American ETF is the final investment I envisage will prove to be a lucrative share to buy and hold forever.

The post 3 Australian shares to buy and hold forever in your ASX portfolio appeared first on The Motley Fool Australia.

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Adobe, Amazon, Apple, Berkshire Hathaway, and PepsiCo. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adobe, Amazon, Apple, Berkshire Hathaway, Netflix, and iShares S&P 500 ETF. The Motley Fool Australia has recommended Adobe, Amazon, Apple, Berkshire Hathaway, Jb Hi-Fi, Netflix, and iShares S&P 500 ETF. 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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