Forever may seem like a long time, but if you park your money in the right places, you'll get solid returns much sooner than you suspect, and that's why it pays to always be packing your portfolio with forever stocks. But what makes a forever stock different from others? Essentially, it's having a killer business model that doesn't need to change much to stay profitable, relevant, and rewarding for shareholders as the years roll by.
With that thought in mind, let's examine a trio of stocks worth buying and holding forever -- and you've probably already heard of all three.
Abbott Laboratories (NYSE: ABT) is a no-brainer stock for indefinite holding because it's always growing its dividend and making share repurchases to boost returns. To accomplish those tasks, it manufactures every kind of healthcare good, from glucose monitors to generic medicines, tools for heart surgery, and even diagnostic tests. And that's how, over the last 10 years, its trailing 12-month net income rose by 307%, reaching more than $8.5 billion.
Source Fool.com