As an investor, I like to do as little work as possible when building a portfolio. Yes, I love investing, but I also love my family and my hobbies as well. As a result, I don’t like to spend the majority of my time researching and picking stocks for short term gains. I like long term plays. And that is why I am writing about 3 buy and forget stocks.

The stocks below are great additions to a portfolio and don’t require you to constantly monitor them. You can buy them with confidence that in the years to come, they will provide you with income through dividends as well as price appreciation.

Granted, when you purchase buy and forget stocks, you can’t just forget them forever. You still need to check in every so often to make sure things are running smoothly, but the check-ins aren’t that frequent.

So what are these great buy and forget stocks? Let’s run through the list!

3 Great Buy And Forget Stocks To Buy

#1. Facebook (NASDAQ: FB)

When Facebook stock debuted, it did so to much fanfare, but little in the way of making an income. As a result, quickly after the IPO, the stock price sank.

Boy have times changed. Not only does Facebook make an income, they now dominate social media. As proof of this, just look at Snap. Many investors thought this was the next hot stock, but it has floundered as Facebook is beating them at their own game.

Currently, Facebook has over 1 billion users and in their latest report, saw an 18% increase in user growth.

Looking at the numbers, they tell a great story as well. Earnings per share came in at $1.04, which beat estimates by $0.18. Revenue was at $8 billion, which beat estimates by $200 million. Even more telling however is that revenue was up 49% compared to last year.

As Facebook continues to improve its algorithm for advertising, you can expect their revenue numbers to only keep increasing.

#2. McCormick (NYSE: MKC)

McCormick is probably as boring as they come regarding stocks. The spice maker isn’t a sexy company and investors won’t be seeing huge spikes in stock prices. But this is why it is one of the great buy and forget stocks.

It is a stable company with consistent earnings. In fact, over the past 3 and 10 year periods, the stock has outperformed the S&P 500. But most investors wouldn’t know this as again, it isn’t a sexy stock.

Earnings per share recently came in at $0.82, beating estimates by $0.06. Revenues hit $1.11 billion, which also beat estimates, this time by $10 million. Revenues were up 5% compared to last year.

As I said, nothing sexy here, just a solid company that keeps churning out results year after year.

And while the stock is pricey, you know you are getting solid growth over the long term while taking advantage of a 2% dividend.

#3. Lowes (NYSE: LOW)

Lowes stock took a pause earlier this year when news hit that new home starts were beginning to slow and the Federal Reserve was planning to start hiking interest rates. But the pullback the stock experienced is not a long term issue as Lowes has many things going for it.

First, even with new home sales slowing, homeowners are still looking to update and improve their existing homes. This is the area where Lowes shines the best. In fact, Lowes is expected to see earnings growth of 15% annually for the next 5 years.

Add on the issues with the decline of Sears, and more consumers will begin to flock to both Lowes and Home Depot.

When the company recently reported earnings, earnings per share came in at $1.03, which missed estimates by $0.03. Revenues also missed estimates by $100 million, but revenue was up compared to last year by 11%.

While these recent numbers might give some investors pause, I think Lowes will be reporting excellent earnings numbers in the next quarter.

Add to this the small but solid dividend that Lowes pays, and this is a perfect example of the buy and forget stocks.

Final Thoughts

There you have 3 great buy and forget stocks to add to your portfolio. Like I said, I love to invest but don’t want it to consume my life. Therefore I like to pick stocks that I can hold for a long time without having to worry over them and constantly getting updates on them.

These 3 stocks are great for investors who like me, enjoy investing but don’t want to spend all of their time researching and trading stocks.

While there are other great long term stocks for you to buy, these 3 should be included on your initial list of ideas.

This author has no positions in any stock mentioned and does not plan to open any positions in any stocks mentioned for at least 72 hours after publication of this article.

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