I think ASX investors have a real shot at following in Ronald Read's footsteps and becoming quiet multi-millionaires. All they have to do is invest in the right ASX shares and leave them alone.

If you aren't familiar with the story of Ronald Read, you're in for a treat. It's perhaps the most inspiring tale for younger investors out there that there is.

Read was born in Vermont, USA, in 1921. He was an army veteran, and later worked as a mechanic, petrol-pumper and finally a janitor.

When he died in 2014 at age 92, most people assumed that he didn't leave much behind. Read had a penchant for endlessly patching his old clothes and was often mistaken for someone of far lower means.

As it turns out, he left quite a lot, almost US$8 million to be precise.

He didn't win the lottery or hit it big on the blackjack tables. Instead, he quietly invested in a portfolio of blue chip stocks, always buying over his long life and rarely selling.

Read reportedly stuck to mature, dividend-paying companies that he could understand. He didn't like stocks like Apple, Amazon or Google (later Alphabet). Instead, he bought stocks like Pacific Gas and Electric Company, Johnson & Johnson, J.M. Smuckers, Dow Chemical, Procter & Gamble and General Motors.

He bought these companies, rarely sold them, and reinvested their dividends. It was enough to make Read a multi-millionaire by the time he left the stage.

5 ASX shares that Ronald Read might have owned

This story resonates with me and many others thanks to its simplicity. It just shows that all you need are a few quality blue chip shares and a generous helping of time to amass a small fortune on the markets.

But let's now assume Ronald Read were born in Australia and turned 18 this year. Which ASX shares would he buy?

Well, I reckon these five stocks would appeal to him:

1. Woolworths Group Ltd (ASX: WOW)
2. Wesfarmers Ltd (ASX: WES)
3. National Australia Bank Ltd (ASX: NAB)
4. AGL Energy Ltd (ASX: AGL)
5.  Bega Cheese Ltd (ASX: BGA)

To start off, all five are mature, dividend-paying blue chip stocks. So we've got that box ticked. Woolworths, Wesfarmers, NAB and AGL have all been listed for many years, and have almost always kept up a stream of healthy dividends coming investors' way. Bega has had a shorter ASX life, but also pays out a decent yield.

All of these companies provide goods and services that are in constant demand, too. Whether it be NAB's financial services, the food and household essentials that Woolworths sells, or the energy that AGL supplies, these are recession-resistant cash flow machines.

I believe that investing in all five, plus a few more, over a lifetime would serve any investor well.