Long term investing is a great way to build your wealth.
This is because the longer you invest, the longer you have for compounding to supercharge your returns.
But what if you don't like stock picking? Well, there are exchange-traded funds (ETFs) out there to make life easier for you. They allow you to buy large groups of shares in one go, meaning you don't have to worry about buying individual stocks.
But which ASX ETFs could be top long term picks? Here are a few to consider:
BetaShares Asia Technology Tigers ETF (ASX: ASIA)
If you are bullish on the long term outlook of the Asian economy, then the BetaShares Asia Technology Tigers ETF could be a great option.
It provides investors with easy access to the best tech companies that the region has to offer. These are the equivalents of the biggest and best tech stocks that you will find on the Nasdaq index. This includes ecommerce giant Alibaba, iPhone maker Taiwan Semiconductor Manufacturing Company, and Temu owner PDD Holdings.
Betashares Global Uranium ETF (ASX: URNM)
Another ASX ETF for investors to consider for the long term is the Betashares Global Uranium ETF.
As you might have guessed from its name, it gives investors access to the leading companies in the global uranium industry. This includes local uranium miners Boss Energy Ltd (ASX: BOE) and Paladin Energy Ltd (ASX: PDN).
With the world increasingly turning to nuclear power as a clean energy solution, demand for uranium is expected to increase materially over the next decade. And with supply forecast to struggle to keep up with this, it could mean strong prices for uranium and bumper profits for the companies pulling it out of the ground and shipping it across the globe.
iShares S&P 500 ETF (ASX: IVV)
A final ASX ETF that could be a great long term option for investors is the popular iShares S&P 500 ETF.
This fund gives investors easy access to 500 of the largest companies that are listed on Wall Street.
This means that you will be owning a slice of 500 high-quality stocks from a range of different industries and sectors. This includes many of the world's largest companies such as Apple, McDonald's, Microsoft, Nvidia, Starbucks, and Tesla.
Given how bright the outlooks are for many of these 500 companies, this ASX ETF appears well-placed to continue delivering strong returns for investors long into the future.
