With some economists tipping the Reserve Bank of Australia to keep the cash rate on hold at the record low of 1.5% until 2020, if I had $10,000 sitting in a high interest savings account I would put it to work in the share market instead.
Three top shares that I would consider putting that money into are listed below:
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is a gaming technology company at the top of its game right now. Not only are its pokie machines winning an even greater slice of the market, its expansion into digital games has been a huge success. It is the latter that I believe makes Aristocrat Leisure a great long-term investment. In its half-year update the company revealed that it had grown its daily active users by a massive 496% on the prior corresponding period to 8.3 million. The recurring revenues that these users generate is extremely attractive in my opinion and puts it in a position to deliver above average growth over the next few years.
Kogan.com Ltd (ASX: KGN)
For a long time I felt the shares of this e-commerce company were a touch expensive. But due to a sharp pull back in its share price, I think Kogan's shares are arguably now in the bargain bin. The selloff occurred when its explosive growth was just a touch less explosive than many had been expecting. So with its shares trading at a fair price and the company's long-term outlook becoming increasingly positive, I think investors ought to consider snapping them up this week.
NEXTDC Ltd (ASX: NXT)
There's no getting away from the fact that this data centre operator's shares are expensive. However, I believe that the incredible growth of the cloud computing market will allow NEXTDC to generate strong enough long-term earnings growth to justify the premium. Especially after it recently raised funds to purchase three new commercial property sites which will eventually bring its total network to 11 centres providing capacity of 300 megawatts. However, it is worth remembering that if it fails to deliver on the market's high expectations its shares could fall heavily.
