3 ASX shares to buy and hold for the 2030s

Here are 3 ASX shares to buy and hold for the 2030s. In other words, investing and holding ASX shares for the long-term.

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There are some ASX shares that I'd love to buy today and hold for at least the 2030s in mind. There are others I wouldn't want to have for 20 minutes. 

Buying something and thinking you're going to sell it a few months later isn't giving your investments long enough to grow your portfolio.

But if you invest with the long-term in mind then you're much more likely to generate great returns with your ASX shares. But only buy the best. 

So, with that in mind, here are three ASX shares I'd buy and hold for the 2030s in mind:

Bubs Australia Ltd (ASX: BUB)

In the business world it takes a while for a company's plan to fully come together. It's not a quick task when you're talking about physical products and supply chains. But consumer-focused businesses can turn into very good businesses if they have a good product and brand.

Bubs is a goat milk product business that is rapidly growing revenue with its infant formula offerings. It's resonating with consumers in Australia, China and Vietnam. The ASX share is reporting impressive growth every quarter. In the March 2020 quarter it reported positive operating cashflow, which is a great step.

Why would I hold it for the 2030s? It's only just getting started in Asia and there are many, many countries that Bubs can target in the future. I'm not necessarily expecting Bubs to turn into a huge business, but it has a very long growth runway if it does well.

Bubs is regularly growing its profit margins and it has a solid cash balance which can fund its growth for the foreseeable future.

Propel Funeral Partners Ltd (ASX: PFP)

The funeral operator ASX share has certainly been volatile over the past few months. Australia has luckily avoided the coronavirus mortality that has hit other countries. This should mean that the long-term thesis for Propel is intact because of Australia's ageing demographics. The funeral restrictions lifting helps short-term profit.

What kind of growth can Propel expect in the future? Death volumes are expected to grow by 1.4% per annum between 2016 to 2025 and then increase by 2.2% per annum from 2025 to 2050. That's a steady growth runway for the business which is projected to pick up in the later 2020s and in the 2030s.

All Propel needs to do is benefit from these tailwinds, increase its market share a bit and slowly increase prices to grow profit strongly using the power of compounding. 

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is another ASX share with great growth prospects. It services the medium and large US church sector which management believe is a $1 billion revenue opportunity because of how much donations are given. It could possibly be higher than that if Pushpay does very well. 

If the ASX share can achieve that goal it will become a much bigger business, which should also come with higher profit margins. It's the type of business model that could see good recurring revenue from regular donations year after year.

I think Pushpay has a good opportunity by the 2030s to expand to other countries or perhaps grow into other donation areas. This would increase Pushpay's total addressable market even more.

A recent acquisition has improved the ASX share's market position and there is potential for more acquisitions in the future.

Foolish takeaway

I think all three of these ASX shares can steadily grow their revenue and profit into the 2030s, yet all three of them are fairly small, so they have a big growth runway. I'd be very happy to buy shares today.

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended BUBS AUST FPO. The Motley Fool Australia has recommended Propel Funeral Partners Ltd and PUSHPAY FPO NZX. 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.

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