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These ASX blue chip shares could help you retire rich

James Mickleboro
Wealthy man with money raining down

I think one of the best ways for investors to grow their wealth is to make long term investments in quality shares with strong business models and equally strong growth prospects.

Three shares that I think could provide outsized returns for their shareholders and potentially allow investors to retire rich are listed below. Here’s why I like them:

CSL Limited (ASX: CSL)

This global biotherapeutics company’s shares have been market-beaters consistently over the last decade. The good news is that I believe the quality of its products, its talented management team, and high level of investment in research and development have positioned it to continue generating outsized returns for investors over the next decade. As a result, I think CSL would be a great long-term investment option for investors.

REA Group Limited (ASX: REA)

I think that REA Group is another top blue chip share for investors to consider buying right now. This is due to its high quality business model and the recent rebound in the housing market. Considering that REA Group still delivered strong profit growth in FY 2019 despite the property downturn, I believe its earnings growth could accelerate in the second half of FY 2020 now that house prices are recovering.

SEEK Limited (ASX: SEK) 

Another blue chip share that I think could generate strong returns over the next decade is SEEK. I believe the job listings giant is well-positioned to deliver above-average earnings growth over the long term thanks to its market-leading position in the ANZ market, its growing international operations, and its high level of investment in growth opportunities. In FY 2020 management expects to achieve revenue growth of 15% to 18% and EBITDA growth of 8% to 11%. However, beyond FY 2020 things look even better. SEEK has an aspirational revenue target of $5 billion by FY 2025. This will be a significant increase on the revenue of $1,537.3 million it posted in FY 2019.

The post These ASX blue chip shares could help you retire rich appeared first on Motley Fool Australia.

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James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group Limited and SEEK Limited. 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.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019