If you're lucky enough to have $20,000 sitting in a savings account, then I would suggest you put that money to work by investing it into the share market.
Over the last 30 years Australian shares have provided investors with an average return of 9.1% per annum according to Fidelity.
If the market were to provide the same average return over the next three decades, that one-time $20,000 investment would grow to be worth over $270,000.
Here are three shares which I would consider investing that $20,000 into:
ResMed Inc. (CHESS) (ASX: RMD)
I think this sleep treatment company could prove to be an outstanding buy and hold investment. With the sleep apnoea market expected to grow at a solid rate for at least the next few years, I believe ResMed will be able to continue generating above-average sales growth for some time. ResMed recently posted a 17% increase in sales to US$530.4 million.
Ramsay Health Care Limited (ASX: RHC)
With the global population aged 60 or above forecast to more than triple by 2050, I believe this leading private hospital operator is in a great position to profit from the expected increase in demand for health care services. At the last count Ramsay operated 223 hospitals across six countries.
XERO FPO NZX (ASX: XRO)
Xero is a cloud-based accounting software provider for small to medium enterprises. Although the company recently announced that it had broken through the 1 million subscribers mark, I believe there is still a significant opportunity for the company to grow internationally. The US market in particular is one which I believe could provide it with a long runway for growth.
