There are not many ASX shares I'd trust as much as the two I'm about to talk about owning for decades.
There are many benefits to owning investments for a long time, including the power of compounding and avoiding paying taxes on capital gains.
I've already owned the businesses below for around a decade, and I expect they'll be in my portfolio for many decades to come.
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Rural Funds Group (ASX: RFF)
Food is one of the most important aspects of human life, so farms are an essential part of society. I think that will be the case for a very long time to come.
Rural Funds owns a portfolio of farms through its real estate investment trust (REIT) structure.
Its diversification strategy is proving effective for providing various sources of rental earnings. It's invested in almonds, macadamias, cattle, vineyards and cropping.
It's not likely to shoot the lights out, but it does have rental growth built into its tenancy agreements, with either fixed annual increases or inflation-linked increases.
The steady drum of rental growth can help increase the value of the farms and help fund higher distributions over time.
It's currently trading at a large discount to its adjusted net asset value (NAV), which was above $3 in in FY25.
The ASX share is expecting to pay a distribution that equates to a yield of 5.6% in FY26. It seems to me like it will be a strong income pick for many years to come based on its history of passive income so far.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
The investment house is another ASX share name I'm planning to be in my portfolio for many years to come.
The business has already displayed excellent longevity – it has been listed for more than 120 years. It's one of the ASX's oldest companies.
It has managed to deliver impressive long-term returns thanks to its diversified portfolio. The business has built its asset base to be defensive and deliver good cash flow.
If a business is steadily growing its cash flow then it can increase its underlying value and fund larger dividends. That's exactly what's happening with Soul Patts over time.
Each year it adjusts and builds its portfolio, giving it more long-term earnings potential and adding diversification without reducing the potential.
It currently has a lot invested in resources, telecommunications, industrial properties, building products, swimming schools, electrification and agriculture. In 20 years, the ASX share's portfolio may be quite different, but I imagine the appeal of the business will be just as high.
I'm particularly happy to own this business because of its steadily rising dividend payouts. It has increased its annual payout every year for the last 28 years. It currently has a grossed-up dividend yield of 3.8%, including franking credits, at the time of writing.
