Buying ASX shares for the long-term can be a smart way to build stable wealth. A diversified portfolio of high-quality companies can be the key to unlocking your retirement dreams. Buying shares is relatively straight-forward, but just how do you choose the shares that will set you up for life? Here's a couple of my favourite picks below.
2 long-term ASX shares that could set you up for life
Let's assume you're a buy and hold investor looking 30 years ahead. That means investing for today won't help that much, but investing for the next big trends can.
I think Nextdc Ltd (ASX: NXT) could be one ASX share to buy for the future. Nextdc owns and operates a number of data centres around Australia. If we look 30 years into the future, it's hard to see how data security and storage won't continue to grow both here and abroad.
That means Nextdc could transform from a growth share to large-cap dividend share in 30 years' time. As the company matures over time, I think Nextdc could pay some handy dividends by the time you hit retirement age.
I think Kogan.com Ltd (ASX: KGN) could be another ASX share to set you up for life. Kogan has grown from a backyard electronics reseller to a diversified online conglomerate.
Kogan could become Australia's answer to Amazon, given it already has business operations in credit cards, insurance, mobile phones and travel. With efficient online operations and lower overheads than competitors, Kogan shares could outperform their ASX peers in the decades ahead.
I think Kogan still has a strong growth profile in the years ahead and could become an ASX 50 share within the next decade or so.
Foolish takeaway
Both of these growth shares are on my watchlist at the moment. If you're investing with a long-term mindset, I think both Nextdc and Kogan are 2 ASX shares that could be a staple in Aussie retirement portfolios in the years to come.
