When it comes to investing in ASX shares, financial independence is the ultimate end game. Unless you're already financially independent and just want to keep building your wealth of course. And let's face it, most of us aren't there yet.
So today, I'm going to discuss five large-cap ASX shares that I have just kept on buying, rain hail or shine, in pursuit of this goal of financial independence.
5 ASX large-cap shares I'm buying for financial independence
Washington H. Soul Pattinson and Co Ltd (ASX: SOL)
Washington H Soul Pattinson, or Soul Patts for short, is one of the ASX large-cap shares that I feel will most certainly play a role in reaching my financial independence.
This company is one of the largest shares in my portfolio, and for good reason. Its diversified stable of different assets and businesses lends a lot of stability and diversification to my overall portfolio.
Further, this company has an outstanding track record of delivering both healthy capital growth and meaningful dividend income. In fact, this stock holds the distinction of being the only ASX share, large-cap or otherwise, to have increased its annual dividend every year since 2000.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is another ASX share that brings a lot of diversification to the table. For one, this company owns some of the best retailers in the country, with names like Bunnings and OfficeWorks. But Wesfarmers has its fingers in dozens of other pies, including gas, workwear, lithium, and e-commerce.
But Wesfarmers, like Soul Patts, also has a long history of delivering growth to its shareholders. With the enduring popularity of its flagship brands like Bunnings, I have complete faith that this will continue for decades to come and will make Wesfarmers an essential contributor to my own financial independence one day.
National Australia Bank Ltd (ASX: NAB)
The ASX banks are some of the stock market's most high-profile large-cap shares. And it's not hard to see why. For decades, NAB and the other major banks have paid out some of the ASX's largest and most consistent dividends. Today, NAB shares offer a fully-franked dividend yield well north of 5.5%.
Because of this high yield, NAB remains one of my largest sources of passive dividend income. This is highly useful to my portfolio, as it helps me continually reinvest in even more quality ASX large-cap shares.
I can't envision a future in Australia without the dominance of the big four banks, including NAB. So this is another company I'm more than happy to hold as a long-term investment, and one that I think will play a large role in my future financial independence.
Endeavour Group Ltd (ASX: EDV)
Moving onto bottle-shop owner Endeavour now, and we have another large-cap share that I'm hoping will help me to an early retirement. Endeavour's appeal for me is its rain, hail or shine nature.
For better or worse, many of us enjoy a drink when celebrating, commiserating or perhaps just after a long day. And there's a fair chance that you'll be engaging either BWS or Dan Murphy's services in these ventures.
Both of these popular bottle-shop channels are owned by Endeavour, and command a clear market share majority in this space. I see no reason why this won't continue well into the future. As such, I'm happy to have Endeavour shares in my portfolio.
MFF Capital Investments Ltd (ASX: MFF)
My final share is probably one you haven't heard of. In itself, this listed investment company (LIC) isn't quite a large-cap share, with its market capitalisation of around $1.74 billion. But through MFF, I am able to invest in some of Australia's and the world's best large-cap stocks.
MFF is an LIC that holds a portfolio of quality US shares within it, which are managed on behalf of shareholders. Some of its largest holdings include the likes of Visa, Mastercard, Amazon and Alphabet.
I love that this company brings exposure to these top-tier global companies to my portfolio. In addition, MFF has a long-term focus and a not-insignificant dividend policy, which only seems to ramp up every year. So with all of this in mind, MFF is the last share for today that I'm banking on using to gain financial independence one day.
