Considering interest rates are at a record low and showing no signs of increasing this year, I would much rather invest my savings in the share market than leave it to gather dust in a high interest savings account.
If I had $30,000 of savings, I would consider investing it evenly across these three shares:
The CSL Limited (ASX: CSL) share price has been a huge mover so far this year, climbing a massive 33%. Whilst it is by no means a bargain buy any more, I still think the fast-growing biotherapeutics company could be a great buy and hold investment option. Thanks to its lucrative immunoglobulins business and its fledgling Seqirus influenza vaccine business, I believe the company is in a position to deliver strong earnings growth for the next decade.
The Ramsay Health Care Limited (ASX: RHC) share price may have climbed around 5% year-to-date, but I don't believe it is too late to invest in this private hospital operator. Demand for its services is expected to grow strongly over the next decade thanks largely to ageing populations, increased chronic disease burden, and improvement in treatments. Because of these strong long-term tailwinds, I feel 30x trailing earnings is a reasonably fair price to pay to own its shares.
Although the Telstra Corporation Ltd (ASX: TLS) share price has rebounded off its recent multi-year low, I still believe it is great value for money right now. Especially with its trailing fully franked 7% dividend. While there are concerns over competitive pressures in the industry, I feel that Telstra still has an advantage due to its high quality and extensive mobile network.