3 'forever' ASX dividend shares to build your wealth

I think you can happily buy these three stocks to hold for your entire life today.

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Recommending high-quality ASX dividend shares that investors can use to reliably build wealth is difficult enough. But putting forward income stocks that investors can conceivably hold 'forever' is a formidable task indeed.

But that won't stop us from discussing this very topic today. So without further ado, here are three ASX dividend shares that I think any investor can hold forever (or at least for the foreseeable future) for relatively consistent dividends and perhaps a bit of growth on the side.

3 ASX dividend shares you can use to build wealth for life

Telstra Group Ltd (ASX: TLS)

Telstra is a company most of us would know and may or may not love. This ASX 200 telco has been on the ASX for decades. I have been impressed with Telstra's ability to change with the times though.

When it made its ASX debut in the 1990s, Telstra's primary business was facilitating landline telephony services. But today, Telstra is the largest provider of mobile phone connections in the country with indisputably the best network coverage. It is also the nation's favourite provider of fixed-line broadband connections.

Whatever communications technology we use in 50 or 100 years time, I'd be willing to bet Telstra will remain the first choice of most Australians. As such, I think Telstra is a great pick for a dividend investment right now. At recent pricing, you can expect a fully franked dividend yield of more than 4.5%.

National Australia Bank Ltd (ASX: NAB)

Next up, we have ASX 200 bank stock NAB. Banks are arguably the most important businesses in the entire economy. And thanks to Australia's 'four pillars' policy, NAB enjoys an entrenched position as one of the largest in the country. Given this has been the status quo for all readers' lifetimes, I don't see this changing anytime soon.

As such, I think you can happily buy NAB shares today and hold them for a very long time indeed. Sure, there will be ups and downs, given banks' inherent cyclicality. But I'd still be happy to ride this out and collect those fat dividends.

Speaking of dividends, like most ASX bank shares, NAB offers substantial dividend income today. At recent pricing, NAB was trading with a fully franked dividend yield of around 4.9%.

Woolworths Group Ltd (ASX: WOW)

Finally, let's talk about ASX 200 supermarket giant Woolworths. Like Telstra and NAB, Woolies is a household name. Chances are many readers visit a store regularly. Woolworths has enjoyed the lion's share of the supermarket and grocery market for many years. Given this company's entrenched presence, I don't see this changing anytime soon either.

One of the most compelling reasons to own Woolworths shares as a dividend investment is its consumer staples nature. We all need to eat, drink and stock our households regularly.

I don't see Woolies' role in helping us do so being disrupted or meaningfully challenged within my lifetime at least. Based on this assessment, I think investors would do well to buy Woolworths shares today if they intend on holding them for life.

Thanks to recent share price drops, the Woolworths share price recently put up a fully-franked dividend yield of around 3.25%.

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank and Telstra Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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