3 ASX shares for a stress-free life

I think some ASX shares are capable of providing people with an (economic) stress-free life.

All businesses may see some volatility from time to time. That’s just what the share market is – different buyers and sellers deciding what price they’re happy to transact at.

Some share prices may be very volatile like Afterpay Ltd (ASX: APT) and Qantas Airways Limited (ASX: QAN).

But I think there are some ASX shares can provide more of a stress-free life:

CSL Limited (ASX: CSL)

CSL may be the most consistent blue chip on the ASX. Health and sickness isn’t really decided by economic cycles, so demand for CSL’s products is pretty consistent. Indeed, the company is one of the ones involved in trying to solve the coronavirus problem for the world.

The company has reaffirmed its profit guidance for FY20 and it’s steadily growing its earnings year after year. It’s a very reliable ASX share.

I really like that CSL is continually investing into research and development which will open up future earnings streams.

Magellan Global Trust (ASX: MGG)

This is a listed investment trust (LIT) which invests in the world’s best businesses. I know I can sleep better at night being invested in high-quality businesses rather just cheap ones.

Some of the businesses it’s invested in right now are: Alibaba, Alphabet, Microsoft, Tencent, Facebook, Visa, Mastercard and Reckitt Benckiser. These aren’t ASX shares, but we can get indirect access to them on the ASX.

Its portfolio is set up to be defensive in ‘normal’ market declines. The businesses it’s invested in are growing over the long-term too.

I like that sometimes we get the opportunity to buy Magellan Global Trust at a net asset value (NAV) discount of more than 5%.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Soul Patts could be one of the easiest ASX shares to be invested in for the long-term. It’s an investment conglomerate that has been operated for over a century. It will probably still be around long after we’ve looked at our portfolios for the last time.

It’s invested in a wide array of different businesses like TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and Clover Corporation Limited (ASX: CLV). It also has some unlisted assets like swimming schools, agriculture and soon (reportedly) regional data centres.

The ASX share isn’t likely to produce huge returns after decades of strong growth, but it could outperform the index whilst paying an ever-growing dividend.

Foolish takeaway

Each of these ASX shares has long-term growth prospects but they’re also defensive. At the current prices I think I’d probably go for Soul Patts because I’m not sure US share prices are great value right now.

More reading

• 3 top ASX 200 shares to buy next week
• Where I’d invest $2,500 in ASX shares today
• How to replace your entire wage with dividends
• Invest like Warren Buffett with these ASX 200 shares
• 3 ASX dividend shares for retirees

Tristan Harrison owns shares of MAGLOBTRST UNITS and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited and CSL Ltd. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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