If I Could Buy Only 3 Stocks, It Would Be These

There is a vast universe of stocks to choose from, and it can be a daunting task to find some that are great to own for the long term. I have a few simple rules that I follow to filter out the wheat from the chaff. Businesses on my buy list should have a strong, enduring franchise and a great track record of growth.

Stocks that pay consistently increasing dividends will also qualify for my list. Furthermore, all candidates need to have plans and strategies to increase their revenues and net incomes over time. Such businesses can help you to compound your money over many years and significantly boost the value of your investment portfolio in preparation for your retirement. Also, a rising dividend acts as a great source of passive income that can either supplement your earned income or replace it when you decide to call it a day.

Here are three stocks that possess the above characteristics -- you may wish to include them in your buy list.

Source Fool.com