October is almost here, which means investors may be thinking about where to put fresh money to work next month.

For me, some of the best opportunities on the ASX are shares with strong competitive positions and plenty of room to keep growing over the long term.

If I were building a shopping list for October, these five ASX shares would be near the top.

ResMed Inc. (ASX: RMD)

ResMed is one of my favourite healthcare shares on the ASX.

The company is a global leader in devices and masks used to treat sleep apnoea, giving it exposure to a large healthcare market with recurring demand.

One thing I like is the repeat-purchase element of the business. Patients need replacement masks and other accessories over time, providing ResMed with an ongoing relationship beyond the initial device sale.

With a huge global market and a strong position in sleep and respiratory care, I think ResMed has plenty of room to keep compounding earnings over the long term.

Pro Medicus Ltd (ASX: PME)

Pro Medicus is another ASX share I would be happy to buy for the long term.

Its Visage imaging software has become an important part of the technology infrastructure used by major healthcare organisations, particularly in the United States.

What I like is the combination of a highly scalable software model and exposure to growing demand for medical imaging.

As hospitals generate more scans and look for faster, more efficient ways to manage them, I think Pro Medicus remains well placed to benefit.

The shares can command a high valuation, but the quality and growth potential of the business keep it on my buy list.

Life360 Inc (ASX: 360)

Life360 gives investors a very different type of growth opportunity.

The company operates a family location and safety platform used by millions of people around the world.

It has been growing rapidly for years, but I believe this can continue. Subscription growth, international expansion, and new services could all help Life360 become a much larger business.

There will probably be plenty of volatility along the way, but for investors with a long horizon, I think the growth runway remains attractive.

Xero Ltd (ASX: XRO)

Xero is another ASX technology share I would buy in October.

Its accounting software is deeply embedded in the day-to-day operations of small businesses, accountants, and bookkeepers.

But it is still only scratching at the surface of its large international opportunity.

As more small businesses move their financial processes online, I think the company can continue growing its customer base and generating more revenue from existing users with extra services.

WiseTech Global Ltd (ASX: WTC)

WiseTech is my final pick for October.

Its CargoWise platform helps freight forwarders and logistics companies manage complex global supply chains.

I like how deeply the software can become embedded in customer operations, which can make it difficult to replace and gives WiseTech a strong base for recurring growth.

The company also has a large international opportunity as logistics businesses continue investing in automation and more efficient supply chain management.

For me, that combination makes WiseTech one of the ASX technology shares I would be happy to buy for the long term.

Foolish takeaway

If I were putting new money into the ASX in October, these are the sorts of businesses I would want to own.

ResMed and Pro Medicus give me exposure to healthcare growth, while Life360, Xero, and WiseTech provide different ways to participate in the continued expansion of global technology businesses.

I would be comfortable buying all five with the intention of holding them for many years.

The post 5 best ASX shares to buy in October appeared first on The Motley Fool Australia.

More reading

• $10,000 invested in Pro Medicus and CSL shares 3 years ago is now worth…
• How I’d build a $50,000 ASX share portfolio today
• Xero shares have crashed 64%. Here’s why I’m buying
• 6 ASX 200 shares scoring renewed buy calls this week
• These 3 ASX 200 shares have lost 49%+ in 2026. Are any now bargains?

Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, ResMed, WiseTech Global, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Life360, ResMed, WiseTech Global, and Xero. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Washington H Soul Pattinson vs Macquarie Group shares: Which dividend stock suits retirees best?

If you’re a retiree thinking about income and stability, two blue-chip ASX names might be sitting on your shortlist: Washington H Soul Pattinson and Co Ltd (ASX: SOL) and Macquarie Group Ltd (ASX: MQG). They’re both stalwarts, well-regarded for diversified holdings and consistent dividends—but which one really deserves a place in a retiree’s portfolio? Here’s how they compare on yield, franking, and all-important reliability.

The case for Washington H Soul Pattinson and Co

Washington H Soul Pattinson—often known as Soul Patts—has its roots in Australian pharmacy, but these days is best described as a diversified investment house. Over its long history (listed since 1903), Soul Patts has built a portfolio spanning listed and private companies, real assets, and emerging ventures. Some of its largest stakes, according to its most recent public description, are in TPG Telecom and New Hope Corporation. The 2025 merger with Brickworks has also made Brickworks a subsidiary under the Soul Patts umbrella.

From a fundamentals viewpoint, several things stand out. Soul Patts has a market cap of $17.29 billion and sports a price-to-earnings (P/E) ratio of 7.08, which is much lower than Macquarie’s. The dividend yield clocks in at 2.36%, but perhaps most attractive for retirees, dividends come fully franked—at a rate of 100%. That means shareholders can potentially claim the full benefit of franking credits. Soul Patts has a long streak of consistently increasing dividends, rarely missing an opportunity to reward shareholders with reliable, tax-effective income.

The case for Macquarie Group

Macquarie Group is one of Australia’s financial powerhouses, providing banking, funds management, advisory, and investment services in more than 30 countries. While technically a bank, Macquarie differs from the “big four,” with much of its money made from asset management, infrastructure, and investment banking rather than traditional retail banking.

Looking at the numbers, Macquarie is a much larger company, with a $92.97 billion market cap and a significantly higher P/E ratio of 19.12. The dividend yield is a touch higher at 2.89%. A big plus is the generous dollar amount per share—for this year, $7.00 per share in dividends. However, only 35% of those dividends are franked, which means Australian retirees won’t get the maximum tax benefit from those payments. Macquarie’s size and global reputation add a layer of strength, and its dividends tend to be relatively predictable, but they may be less tax-effective compared to Soul Patts.

Valuation comparison

Here’s how the two stack up side-by-side on key metrics:

Metric	Washington H Soul Pattinson	Macquarie Group
Market Cap	$17.29 billion	$92.97 billion
P/E Ratio	7.08	19.12
Dividend Yield	2.36%	2.89%
Earnings per share (EPS)	6.417	12.669
Dividend per share	$0.96	$7.00
Franking	100%	35%

Note: Dividend yields are relatively close, but Macquarie’s dividends are only partially franked, while Soul Patts offers fully franked dividends—often a priority for income-focused investors. It’s also notable that Soul Patts’ P/E suggests a much lower valuation relative to current earnings. If you notice the gap between EPS and P/E, keep in mind that reported P/E ratios may sometimes be based on underlying or future earnings rather than trailing or statutory EPS, which can create apparent inconsistencies.

Recent share price performance

Let’s consider recent share price action (up until 23 September):

• Washington H Soul Pattinson closed at $45.51 on 23 Sept 2026, up slightly by 0.2% from the previous day.
• Year-to-date return for SOL shares sits at 23.6%—a strong showing.
• Macquarie Group closed at $242.35 on 23 Sept 2026, barely changed from the day prior (+0.03%).
• Year-to-date return for MQG shares is 21.3%, also very healthy.

That’s robust price momentum for both, with Soul Patts very slightly ahead on total return as of the latest figures.

Which is the better buy?

For my money, if I were a retiree primarily after dividends, my pick would be Washington H Soul Pattinson. Here’s why: even though its headline yield is a tad lower than Macquarie’s, Soul Patts’ commitment to 100% franking maximises the after-tax cash flow for most Australian retirees, especially those who can use franking credits to reduce or eliminate tax. Soul Patts also carries a much lower P/E ratio, which suggests either a lower price relative to earnings or simply a market expectation of steadier but less spectacular growth. Its history of consistent—and growing—dividends gives me extra confidence for dependable income.

That’s not to say Macquarie isn’t impressive; it’s a massive institution offering higher absolute dividend dollars, a slightly higher yield, and global stability. However, the lower franking cuts into the tax advantage, which is often a make-or-break factor in retirement income streams. Both are excellent businesses, but for franked, tax-effective dividends and reliable track record, I’d lean towards Washington H Soul Pattinson in a retiree-focused portfolio.

The post Soul Patts vs Macquarie Group: Best ASX dividend stock for retirees? appeared first on The Motley Fool Australia.

More reading

• Why I think Soul Patts shares are even more attractive after the FY26 result
• Here are the top 10 ASX 200 shares today
• Everything you need to know about the Soul Patts dividend
• Which ASX shares just got downgraded by brokers?
• Buy, hold, sell: New Hope, REA, Telix Pharmaceuticals shares

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Self-managed superannuation funds (SMSFs) are becoming increasingly popular as a way to invest retirement savings. The balances within SMSFs are growing too.

According to the ATO SMSF quarterly statistical report, the number of SMSFs grew by 7.4% to 680,301, with 52,020 establishments during the year.

According to the latest Class annual benchmark report, members aged 25 to 49 continue to make up the majority of members in newly established Class SMSFs. In FY26, they accounted for 63.2% of members in newly established funds, up from 59.5% in FY26.

Now let’s look at the balance within these SMSFs.

Large balances are getting larger

As you’d expect, compounding and contributions are helping increase the balance of these SMSFs.

According to Class, SMSFs with balances above $2 million accounted for 27% of Class SMSFs in FY25, up from 26.1% in FY24 and 23.6% in FY21. FY25 is the latest year with complete data because not all balances and contributions have been processed yet in Class’ software.

The percentage of Class SMSFs with balances above $10 million increased, as did the percentages for balances between $5 million and $10 million, $3 million and $5 million, $2 million and $3 million, and $1 million and $2 million.

What is the average SMSF balance?

There are a few different figures to consider with SMSFs.

SMSFs can have multiple members, so the average balance of an SMSF is not necessarily the average member balance.

According to Class, the average assets per SMSF as at 30 June 2026 came to $1.88 million. Average assets per SMSF member were $1.01 million.

I think it’d also be interesting to see what the average balance is for each member in a multi-member fund.

SMSFs with more members continue to show wide balance differences between members, according to Class. In four-member funds, the member with the highest balance averaged $1.94 million in FY26. That compares to $1.18 million, $380,234 and $242,642 for the members with the second, third and fourth balances, respectively.

Class suggested the differences may reflect the different life stages within four-member SMSFs. The two lower-balance members were much younger on average, at 47.1 years and 47.2 years, while the two higher-balance members were 63.6 and 60.3 years on average.

Given how long retirees may need their assets to last and the potential future costs of healthcare and aged care, it makes sense that SMSF members want to build very sizeable balances.

The post Here’s the average Australian superannuation balance in SMSFs appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares given buy ratings this week offering 20% to 40% upside
• $10,000 invested in Pro Medicus and CSL shares 3 years ago is now worth…
• Here’s the average Australian superannuation balance at 50 and 70
• 10 top ASX ETFs to watch in 2027
• Commonwealth Bank vs Westpac: Which ASX bank stock is the better buy for resilient passive income?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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 recommended Myer. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.