With interest rates at record lows and likely to head even lower in 2020, if I had $10,000 sitting 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:
CSL Limited (ASX: CSL)
I think CSL would be a great option for that $10,000. I think the biotherapeutics company is well-placed for strong long term growth thanks to its talented management team and its CSL Behring and Seqirus businesses. CSL Behring is the global leader in plasma therapies and Seqirus is the second biggest in the influenza vaccines industry. I believe both businesses can grow strongly in the coming years thanks to favourable industry tailwinds, their leading products, and lucrative development pipelines.
Nanosonics Ltd (ASX: NAN)
Another option to consider for that $10,000 is Nanosonics. It is a leading infection control specialist which I feel is positioned perfectly for growth thanks to its industry-leading trophon EPR disinfection system for ultrasound probes. This system has a massive global market opportunity and looks well-placed to capture a big slice of it thanks to its quality and recent guideline changes. Another positive is the upcoming launch of new products which look set to give its growth a further boost and diversify its offering.
REA Group Limited (ASX: REA)
A third option for that $10,000 investment is REA Group. The housing market recovery has been gathering pace in recent weeks, leading to a sharp rebound in house prices. I believe this bodes well for REA Group and could soon lead to a strong rise in listings volumes. Combined with price increases and new revenue streams, I’m confident the company is positioned to deliver solid earnings growth over the coming years.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.