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3 ASX50 growth stocks for a stress-free life

While there are some Fools who love to actively manage their portfolios and constantly strive to outperform the market, some of us prefer more of a “set and forget” strategy.

With that in mind, I’ve chosen 3 ASX50 stocks to add to your portfolio for a stress-free life in 2019 and beyond.

1. Cochlear Limited (ASX: COH)

This Aussie healthcare stock currently boasts a market cap of $12.5 billion as the Cochlear share price has climbed 966% higher since the start of the millennium to $215.05 per share.

The Cochlear share price has been volatile in 2019, particularly after softer half-year earnings in February, but bounced back in August following a strong full-year FY19 result.

The Aussie medical device manufacturer reported a net profit after tax of $265.9 million and saw its share price jump as the growth outlook for 2020 and beyond continues to look good for the company.

While investing in Cochlear may not be a ‘bargain buy’, I think Fools can gain exposure to a solid healthcare company that you can buy and hold until retirement.

2. Wesfarmers Ltd (ASX: WES)

Having spun-off its Coles Group Ltd (ASX: COL) business late last year, as well as sold its 40% stake in the Bengalla coal mine to New Hope Corporation Ltd (ASX: NHC) for $860 million, Wesfarmers has a significant amount of dry powder.

The WA-based conglomerate has been on the lookout for buying opportunities throughout 2019 to fuel its future growth, and after its failed bid for Lynas Corporation Ltd (ASX: LYC) in recent months, it can’t be long until management pick the next target.

Even without another acquisition, the Wesfarmers share price is up 22% so far this year and has consistently posted gains since the end of the GFC in 2009.

For me, Wesfarmers is a strong, diversified company with the ability to chase further synergies and boost revenue streams across the business well into the future.

3. Mirvac Group (ASX: MGR)

Mirvac posted a bumper full-year result in August as it put to bed any doubts about the Aussie property market and its ability to drive profits in any sort of downturn.

The Aussie property developer reported a statutory net profit after tax of over $1 billion for the fourth consecutive year while also increasing its distribution per share by 5% to 11.6 cents per share.

Mirvac is well-diversified, with significant exposure to residential housing offset by strong performance in its Office & Industrial segment, which saw operating profit climb 4% higher to $631 million for the year.

In the current low-interest-rate environment, and further potential Reserve Bank of Australia rate cuts on the way, Mirvac looks to be well-placed to capitalise on the industry tailwinds and see its share price climb higher in the next 5–10 years.

Foolish takeaway

With these 3 ASX50 stocks in your portfolio, you can implement a “set and forget” investing strategy to let your investments do the heavy lifting for you.

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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Cochlear Ltd. 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.