Rather than leaving money to gather dust in a savings account, I think now would be a great time to put it to work in the shares market.
After all, with an average return of around 9% per annum over the last three decades, the potential returns on offer are significantly greater than anything you'll find in a savings account.
With that in mind, here are three top shares that I would consider investing $20,000 into:
CSL Limited (ASX: CSL)
I think this global biotherapeutics company could be a great place to invest that $20,000. This is because I believe the company has strong long term growth prospects thanks to the quality of its products, its talented management team, and its high level of investment in research and development. I expect the latter to keep CSL at the forefront of its industry and allow it to continue generating outsized returns for investors long into the future.
REA Group Limited (ASX: REA)
REA Group is another share that I would consider investing $20,000 into. This is due to its high quality business model and the potential rebound in the housing market in FY 2020. I believe that a rebound in housing prices could lead to the property listings company experiencing strong listing volume growth. If this were to occur, it is likely to underpin solid earnings growth next year. Especially considering how the company has managed to still grow earnings at a strong rate this year despite subdued listing volumes.
ResMed Inc. (ASX: RMD)
Another share to consider investing that $20,000 into is this medical device company which develops sleep treatment products. I'm a big fan of ResMed due to its industry-leading products and its growing market opportunity. Management estimates that there are 1 billion people impacted by sleep apnoea worldwide, but the vast majority of these people are undiagnosed. I believe the growing awareness of the condition will lead to strong market growth over the coming years and drive solid earnings growth.
