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The team at Morgans regularly picks out its best ASX share ideas. These are the ASX shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence.

Among its best ideas for March are the three ASX shares listed below. Here’s what the broker is saying about them:

Commonwealth Bank of Australia (ASX: CBA)

Australia’s largest bank is on Morgans’ best ideas list again in March. This is despite the broker only having a hold rating and $96.11 price target on its shares. The broker explained:

The second largest stock on the ASX by market capitalisation. We view CBA as the highest quality bank and a core portfolio holding for the long term, but the trade-off is it is the most expensive on key valuation metrics (including the lowest dividend yield). Amongst the major banks, CBA has the highest return on equity, lowest cost of equity (reflecting asset and funding mix), and strongest technology. It is currently benefitting from the sugar hit of both the rising rate environment and relatively benign credit environment.

Endeavour Group Ltd (ASX: EDV)

A new addition to the list this month is drinks giant Endeavour. Morgans believes recent share price weakness has created a buying opportunity for investors. It has an add rating and $7.80 price target on its shares. Morgans commented:

We believe the share price weakness over the past six months on the back of an uncertain regulatory environment (eg, potential introduction of cashless gaming cards in NSW) has shifted the balance of risks to the upside with EDV’s underlying business remaining strong. The company possesses a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Universal Store Holdings Ltd (ASX: UNI)

Another new addition on Morgans’ best ideas list is Universal Store. The broker likes the youth fashion retailer due to its expansion potential, online opportunity, and its exposure to younger consumers. Morgans has an add rating and $7.00 price target on its shares. It said:

Universal Store (UNI) is one of the largest and fastest growing fashion retailers in Australia. Through a national network of over 100 stores and a successful online platform, UNI curates a diverse range of men’s and women’s fashion, shoes and accessories from local and international brands as well as its own private labels. UNI’s stores trade under the Universal Store, Perfect Stranger and THRILLS banners. UNI has opportunities to grow steadily through the rollout of bricks and mortar stores, increased digital penetration and expansion of wholesale channels. While we recognise the general risk around a decline in consumer expenditure on discretionary categories like apparel, we highlight that the youth demographic is likely to be more resilient.

The post Morgans names 3 of the best ASX shares to buy in March appeared first on The Motley Fool Australia.

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More reading

• Bond blitz: CBA offers 6.7% yield, but not on its shares
• Making the first $1,000 in passive income: These are the ASX shares I would buy first
• Buy Rio Tinto and this ASX dividend share: Goldman Sachs
• 6 ASX 200 directors buying up their companies’ shares this week
• Morgans names 2 ASX dividend shares to buy with big yields

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. 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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The Weebit Nano Ltd (ASX: WBT) share price leapt 7.6% higher in morning trade. 

The ASX tech share, which develops advanced memory technologies for the global semiconductor industry, closed yesterday trading at $7.07. In earlier trade, shares were changing hands for $7.61.

As we head into the lunch hour there looks to have been some profit-taking going on, with the Weebit Nano share price currently up 4%.

This comes on the back of commercialisation news for one of the company’s core products.

What did the ASX tech share report?

The Weebit Nano share price is marching higher after the company reported on the commercial availability of its resistive RAM (ReRAM) IP.

ReRAM is available in SkyWater Technology’s (NASDAQ: SKYT) 130nm CMOS (S130) process. SkyWater’s customers can now integrate Weebit’s non-volatile memory (NVM) in their system-on-chip (SoC) designs.

The company says its ReRAM enables faster semiconductor designs at a lower cost. It also highlighted that ReRAM is more reliable and energy efficient than those using flash or other emerging NVMs.

Commenting on the progress that’s sending the Weebit share price higher today, CEO Coby Hanoch said:

Our valuable partnership with SkyWater has enabled us to bring this first Weebit ReRAM product to market. Our teams have worked tirelessly towards commercialisation of the technology, with our ReRAM IP now commercially available for customers to design their products in SkyWater’s US foundry.

ReRAM is no longer the technology of the future – it is here now.

Looking ahead at the next steps, Hanoch said, “We are now working with a number of potential customers to map the technology’s advantages to their specific design requirements.”

SkyWater CTO Steve Kosier added, “Weebit’s technology has excellent reliability even at high temperatures, and is tolerant to radiation and electro-magnetic fields, making it a great fit for many of our customers’ demanding target markets.”

Weebit will demonstrate its S130 ReRAM IP module in Nuremberg, Germany at Embedded World 2023 on 14-16 March.

Weebit to enter ASX 300

Also likely adding some tailwinds for the Weebit share price is the stock’s upcoming inclusion in the S&P/ASX 300 Index (ASX: XKO). That’s part of the S&P Dow Jones Indices March 2023
quarterly rebalance, announced on Friday.

Being included in the ASX 300 means that more fund managers, often limited to larger-cap stocks, will be able to invest in the company.

Weebit Nano share price snapshot

As you can see in the chart below, the Weebit Nano share price is up a whopping 126% so far in 2023. Over the past 12 months, the ASX tech share has rocketed 172%.

The post Weebit Nano share price just surged 7% on product commercialisation news appeared first on The Motley Fool Australia.

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More reading

• Down 17% in 2 days, has the dream run for Weebit Nano shares finally ended?
• Up 59% in a month, guess which ASX All Ords share just hit another multi-year high
• Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher
• 3 ASX All Ords shares making moves today following earnings, one up 16%
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?

Motley Fool contributor Bernd Struben 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 no position in any of the stocks mentioned. 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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The S&P/ASX 200 Index (ASX: XJO) is having a bit of a slow day so far this Tuesday. At the time of writing, the ASX 200 has slumped by 0.15%, dragging the Index down to around 7,317 points. But that’s nothing compared to the woes of the Megaport Ltd (ASX: MP1) share price.

ASX 200 tech share Megaport is having a shocker today, no way around it. The Megaport share price closed at $5.74 yesterday. But the company opened at $5.50 this morning and has fallen a nasty 10.8% so far, down to just $5.12 a share. Ouch.

So what’s going on here that has elicited such a dramatic slump in the value of Megaport shares this Tuesday?

Well, it appears this share price slump has been sparked by some news out of the company today. In an “executive management update” released to the markets this morning before open, Megaport has announced that none other than its CEO, Vincent English, has tendered his resignation, effective immediately.

Megaport share price tanks after CEO’s abrupt departure

In the ASX statement, Megaport founder and chair, Bevan Slattery, had this to say:

Vincent has provided outstanding leadership as CEO of Megaport for the past six years, leading the business through its scale up and scale out transformation.

Vincent has been responsible for driving the vision of the Company through a period of incredible growth and for creating a legacy which sets the Company up for accelerated revenue growth and operational success in the future.

No other reasons were given for English’s rather abrupt departure.

Slattery will now act as interim CEO while Megaport commences a “global search” for its next leader. English will remain “available” at Megaport until 30 April to “advise and assist” the company with the transition.

English might get some heart from the Megaport share price’s reaction to the news of his departure — investors clearly aren’t thrilled. Although this might also be a consequence of the somewhat rushed nature of this development.

But the Megaport share price has been on struggle street for a while regardless. The company has lost almost 15% year to date in 2023 so far, as well as a painful 60% or so over the past 12 months:

Megaport shares are also down more than 75% from their all-time high above $21 a share that we saw back in late 2021.

The post Megaport share price tumbles 10% on CEO resignation appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX 200 CEO just sold $5 million worth of his company shares?
• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Guess which ASX 200 director just bought 50,000 of their company’s shares

Motley Fool contributor Sebastian Bowen 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 Megaport. The Motley Fool Australia has recommended Megaport. 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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The founder and CEO of WiseTech Global Ltd (ASX: WTC), Richard White, has just sold around $5 million in shares of the S&P/ASX 200 Index (ASX: XJO) company.

According to a WiseTech announcement to the ASX, the executive made sales between 27 February 2023 to 2 March 2023.

WiseTech share price falls after sale

In late morning trade, the ASX tech share is down by 0.81%.

The company informed the market that White sold 83,209 WiseTech shares for an average price of $62.01. That represents a sale value of around $5.16 million.

For many executives, that could present as a worrisome move.

However, White is one of Australia’s wealthiest individuals and still owns a vast amount of WiseTech shares, so this sale only represents a small amount of his holding.

He still owns 280,354 WiseTech shares directly and 121,042,366 shares indirectly. This means he owns $7.6 billion worth of shares in the ASX 200 company. In other words, it was a tiny portion of his shares.

Also, it’s worth noting that the current WiseTech share price is around $62.49 at the current time, while White’s sales were for an average price of $62. He has seemingly left some money on the table.

This isn’t the first time White has sold shares. He also sold 67,906 shares in early December for $57.13 per share.

Does this mean it’s time to worry?

The fact that the WiseTech share price keeps rising could suggest the market isn’t overly worried.

Certainly, if I had that much of my wealth in one place, I’d want to make sure my wealth was diversified.

The WiseTech share price is up by more than 40% over the past year, despite the succession of interest rate rises.

Investors seem to like the progress the ASX 200 share is making with its market position and financials.

In the first half of FY23, the ASX tech share saw total revenue growth of 35% to $378.2 million. This helped underlying net profit after tax (NPAT) jumped by 40% to $108.5 million, while free cash flow jumped 53% to $137.8 million.

In FY23, the business is expecting revenue to grow by between 26% to 30%, while it expects to achieve underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of between $380 million to $412 million, representing growth of 19% to 29%.

WiseTech share price snapshot

Since the start of 2023, the company has risen by more than 25%.

The post Guess which ASX 200 CEO just sold $5 million worth of his company shares? appeared first on The Motley Fool Australia.

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More reading

• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Guess which ASX 200 director just bought 50,000 of their company’s shares
• Why are ASX 200 tech stocks like Xero having such a stellar start to the week?

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 positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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The Core Lithium Ltd (ASX: CXO) share price is trading lower on Tuesday morning.

At the time of writing, the lithium miner’s shares are down 1.5% to $1.00.

Why is the Core Lithium share price falling?

The weakness in the Core Lithium share price may have been driven by a broker note out of Goldman Sachs.

This note was in response to the company’s mineral resource update on Monday, which revealed that it has more than doubled its resource estimate of the Finniss Lithium project from 4.37Mt at 1.53% lithium oxide to 10.1Mt at 1.48% lithium oxide.

While on paper this looks great, Goldman highlights that it isn’t necessarily as good as you might think. It explained:

While BP33’s resource has more than doubled, this translates to only a ~20%/30% increase in Measured & Indicated / Total resource respectively at Finniss, with more than half of the additional resource in the lower Inferred category and at depth (>400m), limiting near-term production upside.

What impact has this had on its valuation?

Goldman has now factored in this increase. And while it extends its life of mine estimate, it hasn’t made a difference to its near term earnings and valuation. As a result, the broker has made no changes to its recommendation and retains a sell rating and 90 cents price target on its shares. It explains:

We now model the additional ~3Mt of M&I resource, which on current processing capacity adds ~2.5 years of additional production life at Finnis, extending our life of mine (LOM) to nearly 15 years, though we lower our nominal value for exploration and growth with this resource increase now in our base case.

Our near term earnings are unchanged, including near term production delays from wet weather and forecast declines in lithium pricing, with a minor increase in NAV and our A$0.90/sh PT remaining unchanged.

The post Broker gives its verdict on the Core Lithium share price appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher
• Why is the Core Lithium share price soaring 11% today?
• Here are the 10 most shorted ASX shares this week
• What’s happening with ASX 200 lithium stocks this week?

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. 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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The Woodside Energy Group Ltd (ASX: WDS) share price is defying the broader market retreat today to post a late morning gain of 0.9%. 

Shares in the S&P/ASX 200 Index (ASX: XJO) oil and gas company closed yesterday at $37.21. Shares are currently changing hands for $37.54 apiece.

This comes as ASX 200 investors consider some strong words of support for the domestic gas sector from prime minister Anthony Albanese.

Why is Albanese backing gas energy?

The Woodside share price could be getting a lift on news that Albanese supports gas for a “key role” in Australia’s energy mix as the world transitions towards cleaner energy.

Addressing The Australian Financial Review Business Summit for the first time, Albanese pointed to recent global energy shocks, saying these “have presented us with a series of national wake-up calls”.

Among those wake-up calls, is Australia’s own antiquated energy grid.

Albanese said it will take time for the world to transition to net zero, but that doesn’t mean there’s time to waste.

“The work of transition will require massive investment in building new physical assets and modifying existing ones,” he said (quoted by the AFR).

Potentially giving the Woodside share price some tailwinds today, the prime minister focused on the importance of gas in this ongoing transition:

This is where gas in particular has a key role to play, as a flexible source of energy – providing peaking power today and continuing to provide firming and back-up power. Helping to smooth the transition to renewables, while guaranteeing energy security both for Australia and for our partners in the region.

One of the things holding back new investments in gas exploration and project expansion in Australia is uncertainty over future legislation that could turn the billion-dollar projects into stranded assets.

But Albanese sought to allay those fears.

For Woodside shareholders alongside other gas explorers and producers, the prime minister said it’s “important they can look to government for the confidence and certainty of a stable foundation and a long-term vision”.

Woodside share price snapshot

The Woodside share price has seen some big swings over the past year amid volatile energy prices.

As you can see in the graph below, shares in the ASX 200 energy company are now up 9% in 12 months.

The post Woodside share price gains as Albanese supports gas in energy ‘wake-up call’ appeared first on The Motley Fool Australia.

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More reading

• Hoping to bank the supersized Woodside dividend? You’d better hurry
• Passive income watch: Here are the ASX 200 shares that delivered some of the biggest dividend boosts this earnings season
• 5 things to watch on the ASX 200 on Friday
• Why did the Woodside share price outperform the ASX 200 in February?
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Bernd Struben 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 no position in any of the stocks mentioned. 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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The Pentanet Ltd (ASX: 5GG) share price has been a sensational performer on Tuesday.

In early trade, the cloud gaming provider’s shares rocketed as much as 70% to 28 cents.

The Pentanet share price has pulled back a touch since then but remains up 42% at 23.5 cents today.

Why is this ASX share rocketing higher?

Investors have been scrambling to buy the company’s shares after it announced a collaboration agreement with Optus Mobile.

According to the release, the initial 12-month agreement will see Pentanet deliver the NVIDIA GeForce NOW cloud gaming service to Optus customers.

Management believes that this agreement marks a significant milestone towards its goal of commercialising GeForce NOW with the introduction of Pentanet’s first large-scale wholesale partner.

The two parties will work towards a program that enables enhanced experience for GeForce NOW users on Optus SubHub, with a specific focus on 5G and the GeForce NOW user management platform, CloudGG.

Solidifying its position

Pentanet’s managing director, Stephen Cornish, was pleased with the news and believes it will solidify its position in the market. He said:

This is a big step towards solidifying our position in the gaming market, being the wholesale digital distribution channel for GeForce NOW in our territories. I’m looking forward to working closely with Optus and putting this game changing platform into the hands of new users.

Optus’ managing director of marketing and revenue, Matt Williams, added:

Our mission is to break down the barriers to gaming and offer our customers the freedom to play anywhere and anytime. Cloud gaming is an ideal example for 5G in the home and on the go, given the need for high speed, low latency connectivity, and we are excited that we will be able to offer that to our customers very soon.

The post Guess which ASX share is skyrocketing 70% after securing a deal with Optus appeared first on The Motley Fool Australia.

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More reading

• Hoping to collect the latest CSL dividend? Here’s how
• ASX 200 stock InvoCare rallies 37% on takeover approach
• How I’d aim to replace an entire salary with passive income from ASX dividend shares
• Sayona Mining share price charges higher following $55m cap raise
• Mineral Resources share price slides as Norwest takeover bid heats up

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pentanet. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Perhaps uniquely amongst the top shares of the S&P/ASX 200 Index (ASX: XJO), healthcare giant CSL Ltd (ASX: CSL) is not well known for its dividend payments.

That’s because, unlike the big four banks, and the likes of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Telstra Group Ltd (ASX: TLS), the CSL dividend yield doesn’t often get above 1%.

Yet CSL still has a long and proud history of paying dividends to its shareholders. In fact, it has upped its dividend quite substantially over the past few years. Back in 2019, investors enjoyed $2.66 in annual dividends per share. But in 2022, this had ratcheted up to $3.18 per share.

This trend seems to be continuing in 2023. CSL’s next interim dividend, and its first for the year, is due on 5 April next month and will come in at US$1.07 per share, unfranked. That’s a decent 2.88% increase over 2022’s interim dividend of US$1.04 cents per share.

You’d better be quick if you want the next CSL dividend

But if you wish to collect this latest dividend from the blood plasma and vaccine company, you’d better be quick. That’s because CSL is scheduled to trade ex-dividend for this next payment in just two days’ time. Yes, CSL will ‘go ex-div’ for its next interim dividend on 9 March – this Thursday.

When a company trades ex-dividend, it cuts off any new investors from receiving its latest dividend payment. So anyone who owns CSL shares by the close of tomorrow’s trading session will receive the company’s upcoming dividend payment. But anyone who buys CSL shares from Thursday onwards will not.

Because of this, we can expect to see a bit of a drop in the CSL share price on Thursday morning. This will reflect the fact that CSL shares will become slightly less viable on Thursday, seeing as the shares will no longer come with the right to receive this latest dividend.

This is what typically happens when an ASX divided share passes its ex-dividend date.

So, as you might have gathered, CSL denominates its dividend payments in US dollars.

The raw amount of US$1.07 per share has been fixed, but ASX investors will only find out exactly how much is coming their way in Australian dollar terms on 10 March, this Friday. On today’s exchange rates though, it will be around $1.59 per share.

Then, it’s less than a month until dividend payday on 5 April.

At today’s pricing, CSL shares are up 4.31% in 2023 so far:

At this share price, CSL shares now have a dividend yield of 0.96%.

The post Hoping to collect the latest CSL dividend? Here’s how appeared first on The Motley Fool Australia.

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More reading

• It’s time to buy Rio Tinto shares: Goldman Sachs
• Hoping to pocket the next Rio Tinto dividend? Read this
• Keen to bag the latest BHP dividend? You’ll need to be quick
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor Sebastian Bowen has positions in Telstra Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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The InvoCare Limited (ASX: IVC) share price is shooting higher on Tuesday morning.

At the time of writing, the funerals company’s shares are up 37% to $12.26.

Why is the InvoCare share price racing higher?

Investors have been bidding the InvoCare share price higher today after the company received a takeover approach.

This followed the release of notice of initial substantial holder which revealed that Singapore-based company Blue Eternal and private equity firm TPG Asia have snapped up a significant holding in the funerals company.

The two parties have acquired a combined relevant interest and economic interest of 17.81% in InvoCare shares.

Blue Eternal and TPG paid a total of $309,877,486.60 for the shares, which equates to an average of $12.65 per share. This represents a massive 41.3% premium to the InvoCare share price at the close of play on Monday.

InvoCare confirms offer

Just before the market open, InvoCare confirmed that it has received an unsolicited, preliminary, non-binding indicative offer from TPG to acquire 100% of the issued shares of InvoCare by way of scheme of arrangement.

Under the indicative proposal, InvoCare shareholders would receive $12.65 cash per InvoCare share, adjusted for any additional dividends or capital returns made prior to completion of the proposed transaction.

The offer is subject to conditions including the completion of satisfactory due diligence, final approval of TPG’s Investment Review Committee, regulatory approval, and execution of binding transaction documents on mutually acceptable terms.

It also stipulates that the InvoCare board cannot have any engagement with third parties on an alternative change of control transaction during the due diligence period and negotiation of binding transaction documents.

The InvoCare board has now commenced an assessment of the indicative proposal. It has advised that shareholders do not need to take any action at this stage and warned there is no certainty that the proposal will result in a transaction.

While this offer is a significant premium to the current InvoCare share price, it is worth highlighting that it hit a 52-week low on Monday and was down 20% in the space of a month. The offer is also only a fraction above InvoCare’s 52-week high, which arguably makes it somewhat opportunistic.

The post ASX 200 stock InvoCare rallies 37% on takeover approach appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares crumbling over 7% on results announcements
• Why Appen, Downer, Fortescue, and Invocare shares are crashing today

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. 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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ASX dividend shares could be the ticket for workers who want to replace their whole salary with passive income.

Businesses have great potential to be able to pay dividends and re-invest in their businesses, enabling income for investors as well as compounding profit.

Investors have more options for where to put their money these days. Some term deposits and savings accounts can offer investors a yield that starts with a 4%.

But, I don’t think those investments that offer a fixed return are the way to build wealth because they don’t produce any growth themselves.

That’s why I think ASX dividend shares can be the tool that we use to build wealth.

How I’d plan to replace a salary with passive income

Before we get to the investing side of things, I think investors need to figure out how much they’re able to save and what level of passive income they’re aiming for.

Costs are quite a lot higher for households these days, with more expensive food and energy. It’s okay if investors aren’t able to save much in the current environment. Keeping a roof over one’s head and putting food on the table is the most important thing.

I’d also suggest that each adult needs to ensure they’re not trying to save too much and hurting today’s enjoyment. What I mean by that is that people get older, circumstances change and so on – sometimes it’s better to pay for an experience this year than wait for a distant future.

Having said that, I’d figure out how much we can save and invest. It could be $500 a month, $1,000 a month, $2,000 a month or even more.

Next, I’d want to work out what the dividend passive income goal is. Every household’s expenditure is different. The desired expenditure could also be different.

The Association of Superannuation Funds of Australia’s Retirement Standard suggests that a couple that owns their own home will need an income of about $67,000, while a single person will need an annual passive income of more than $47,000.

Start saving and investing

I’d then get to work and start investing that $1,000 a month or $2,000 a month, perhaps more, into ASX shares. So, that would turn into $12,000 a year or $24,000 a year.

Of course, making an annual passive dividend income of $67,000 or more will take time to build.

Investing $1,000 a month, and if the portfolio grows at 10% a year, could achieve $1.18 million after 25 years.

Investing $2,000 a month, and if the portfolio grew by 10% per year, could rise to $1.37 million after 20 years.

Both of those totals may seem like a lot, but I think they’re very achievable thanks to compounding. In the first example, investing $1,000 a month, it only takes the investor to add $300,000 of their own money – while $880,000 comes from investment returns in that example.

Which ASX shares to buy?

There are some ASX shares that I think can provide a solid amount of growth for investors and help compound a portfolio’s value, such as Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), VanEck Morningstar Wide Moat ETF (ASX: MOAT), Wesfarmers Ltd (ASX: WES), VanEck MSCI International Quality ETF (ASX: QUAL), Lovisa Holdings Ltd (ASX: LOV) and Betashares Nasdaq 100 ETF (ASX: NDQ).

When investors get closer to the age or figures they’re aiming for, I’d also want to consider some ASX dividend shares that pay good yields like Soul Pattinson, Wesfarmers, Rural Funds Group (ASX: RFF), Premier Investments Limited (ASX: PMV), Charter Hall Long WALE REIT (ASX: CLW) and Metcash Limited (ASX: MTS).

A $1.2 million portfolio with a 5% dividend yield would produce an annual passive income of $60,000. That sounds great to me.

The post How I’d aim to replace an entire salary with passive income from ASX dividend shares appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Top ASX ETFs to buy in March 2023
• I think value investors would love to buy these 2 cheap ASX shares
• Making the first $1,000 in passive income: These are the ASX shares I would buy first
• 2 explosive ASX growth shares to buy this month: analysts

Motley Fool contributor Tristan Harrison has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended 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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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