With interest rates at record lows and possibly going lower in 2020, if I had $10,000 in a bank account I would consider putting it to work in the share market.
After all, the potential returns on offer are far greater than the paltry interest rates being offered by banks these days.
Here are three top shares I would consider buying in 2020:
Altium Limited (ASX: ALU)
I think Altium would be a great option for the $10,000. It is a leading design software company with a focus on printed circuit boards (PCBs). PCBs are the small circuit boards that you'll find in most modern electronic devices. Altium has been experiencing incredible demand for its software in recent years thanks to the rapidly growing Internet of Things market. The good news is that this market is expected to grow rapidly, especially with the arrival of 5G internet. In light of this, I believe Altium is well-placed to continue its impressive form in 2020 and beyond.
Nearmap Ltd (ASX: NEA)
Another option for that $10,000 investment is this leading aerial imagery technology and location data company. As with Altium, I believe Nearmap is well-placed to grow its earnings at an explosive rate over the next few years. Especially following the release of new products which I believe strengthens its position as the market leader. Overall, I believe this places Nearmap perfectly to increase its share of the North American market. Management estimates that it has only captured 1% to 2% of this massive market.
ResMed Inc. (ASX: RMD)
A final option for the funds could be ResMed. It is a global medical device company which is focused on the growing sleep treatment market. I believe it has outstanding long term growth potential thanks to its leading position in a market poised to benefit greatly from the proliferation of obstructive sleep apnoea (OSA). According to a recent presentation, less than 20% of OSA sufferers have been diagnosed or treated. I feel this gives ResMed a significant runway for growth.
