Passive income is one of the reasons many investors turn to the ASX.
With that in mind, these four ASX passive income shares would be on my long-term shortlist.
Flight Centre may not be the first company that comes to mind for passive income, but it has an interesting long-term case.
The travel company has rebuilt strongly since the pandemic and once again has the capacity to return cash to shareholders.
The dividend will probably be more cyclical than those of some defensive companies, if economic conditions weaken.
For investors willing to accept some volatility, I would be happy to own Flight Centre for income and growth.
Coles is a much more defensive option. Australians need groceries regardless of what is happening in the economy, giving the supermarket giant a source of sales.
The company also has opportunities to grow through population increases, online shopping, and continued investment in its supply chain and automated distribution network.
Lottery Corporation is another business suits an ASX buy-and-hold passive income strategy.
Lottery tickets need little physical infrastructure compared with many other consumer businesses, and the company can generate cash from its established brands.
Amcor provides a different source of passive income.
Packaging is not an exciting industry, but that is not necessarily a problem for an income investment.
For me, that mix of income and the potential for earnings to grow over time is much more interesting than chasing yield.