Some investors love watching the market. They check prices over breakfast, read broker notes at lunch, and know exactly what the S&P/ASX 200 index (ASX: XJO) is doing by mid-afternoon.
There is nothing wrong with that. But not everyone wants investing to become a second job.
The good news is that a strong ASX portfolio should not need constant attention. In fact, some of the best portfolios are built to be left alone most of the time.
Start with investments that do the work for you
The easiest way to reduce the need for constant decision-making is to own investments that already spread money across lots of companies.
ASX exchange traded funds (ETFs) can help here.
Funds such as the Vanguard MSCI Index International Shares ETF (ASX: VGS), iShares S&P 500 ETF (ASX: IVV), and the Vanguard Australian Shares Index ETF (ASX: VAS) give investors exposure to large collections of businesses in one trade.
That means an investor does not have to know which company will report the best result next month.
They are backing the long-term progress of markets rather than relying on one perfect stock pick.
Choose businesses that can compound quietly
Individual ASX shares can still have a place in a low-maintenance portfolio. But the type of company is important.
I would focus on businesses with strong market positions, repeat customers, pricing power, and long-term growth opportunities.
These are companies that can become more valuable over time without needing everything to go right each quarter.
Examples could include ResMed Inc. (ASX: RMD), Goodman Group (ASX: GMG), REA Group Ltd (ASX: REA), Wesfarmers Ltd (ASX: WES), and TechnologyOne Ltd (ASX: TNE).
They will still have weaker periods. No company avoids those. But if the long-term investment case remains intact, investors may not need to react to every share price move.
Avoid shares that require too much watching
Some ASX shares need constant monitoring. That might be because they carry too much debt, rely on commodity prices, need regular capital raisings, or have business models that are still unproven.
These shares can work out well, but they often demand more attention.
For investors who want a portfolio they can leave alone for longer periods, it may be better to avoid making these positions too large.
A portfolio becomes easier to live with when it is not filled with companies that can change dramatically from one update to the next.
Let dividends help
Dividends can also make a portfolio feel more productive.
Income from shares such as Transurban Group (ASX: TCL), APA Group (ASX: APA), Woolworths Group Ltd (ASX: WOW), and Charter Hall Long WALE REIT (ASX: CLW) can provide cash flow while investors wait.
That cash can be taken as income or reinvested to buy more shares.
Over time, reinvested dividends can quietly add to returns without the investor needing to do much at all.
Set a review schedule
A low-maintenance portfolio does not mean ignoring everything forever. It just means checking it sensibly.
For many investors, a proper review every six or 12 months may be enough. That review can ask a few simple questions.
Is the portfolio still diversified? Are the main holdings still doing what they were bought to do? Has any position become too large? Is there enough exposure to global shares, income, and long-term growth?
That is very different from watching every daily move. The aim is not to build a portfolio that never changes. It is to build one that does not need constant fixing.
For investors who want to build wealth without living inside their brokerage account, that could be a very good place to start.
The post How to build an ASX portfolio you do not need to check every day appeared first on The Motley Fool Australia.
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More reading
- Why I think these boring ASX shares could build serious wealth
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- Buy, hold, sell: Netwealth, Sigma Healthcare, and Wesfarmers shares
- 9 ASX 200 shares with strengthened buy ratings this week
Motley Fool contributor James Mickleboro has positions in Goodman Group, REA Group, ResMed, Technology One, and Woolworths Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group, ResMed, Transurban Group, Wesfarmers, and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended Apa Group, ResMed, and Transurban Group. The Motley Fool Australia has recommended Goodman Group, Vanguard Msci Index International Shares ETF, Wesfarmers, 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.