With interest rates at record lows and unlikely to improve any time soon, I would rather invest $20,000 in the share market than leave it sitting in a high interest savings account.
After all, the local share market has provided investors with an average annual return of 9.1% over the last three decades according to Fidelity.
Three shares which I would consider an investment in today are listed below:
Appen Ltd (ASX: APX)
This exciting company is a global leader in the development of high-quality, human annotated datasets for machine learning, and artificial intelligence. It continues to go from strength to strength and was one of the standouts during earnings season in my opinion. Strong demand for its high quality data for machine learning-based product development means that management expects EBITDA growth in FY 2017 to be at the high end of its 40% and 50% guidance range.
Collins Foods Ltd (ASX: CKF)
I'm very bullish on this KFC restaurant operator due to its rapid expansion both at home and in Europe. I expect its European expansion in particular could provide the company with significant growth over the next decade. So with its shares changing hands at just 17x earnings and providing a trailing fully franked 2.8% dividend, I believe it could be a great buy and hold investment candidate.
CSL Limited (ASX: CSL)
Another great investment option could be this biotherapeutics giant. In FY 2018 CSL expects net profit after tax to be in the range of $1,480 million to $1,550 million in constant currency terms. This will mean growth of approximately 16% year-on-year at the high end of its guidance range. I feel that this level of growth and its world class business makes CSL a great option at the current share price.