Getting paid for no work sounds like a dream come true.
Most jobs require our time to earn money. It doesn’t matter whether you’re working at a Coles Group Limited (ASX: COL) supermarket or you’re one of the world’s biggest movie stars – you need to put in time to bring home the dollars.
A lot of other assets require time input as well. If you own a rental property you probably need to communicate with your property manager, pay some of the property bills and other administrative tasks.
But shares are completely different. You can invest in a share and own it for decades with no work at all – except for doing the annual tax return.
Owning ASX shares can mean you don’t have to ever talk to management, you don’t need to pay any bills, you don’t even need to read the business announcements – particularly if you own an exchange-traded fund (ETF). It can be an extremely laid back lifestyle.
There’s a reason why the phrase “pays dividends” exists. Dividends are a wonderful way for us to receive a portion of the yearly profits from our shares. You don’t need to do anything, it just rolls into the bank account every three or six months. How great is that?
In-fact, the better ASX shares will pay you more every year! A pay rise and more money for no work. Most people have to work overtime, get a qualification or be more productive to get paid materially more.
There are some shares on the ASX that are known as dividend payers like Commonwealth Bank of Australia (ASX: CBA), Transurban Group (ASX: TCL) and Telstra Corporation Ltd (ASX: TLS). But I don’t think these three are good value at the moment.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Transurban Group. 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.