Interest rates are at ultra low levels and likely to be heading even lower in the coming months. In light of this, I would sooner invest in the share market than leave funds to gather dust in a supposedly "high" interest savings account.
After all, the potential returns on offer are far greater than the paltry interest rates being offered by banks these days.
Here are three outstanding ASX shares I would consider buying:
Cochlear Limited (ASX: COH)
I think Cochlear is a share to consider buying with your $10,000. This is due largely to its high quality hearing solutions products and the ageing populations tailwind. As people age, their hearing has a tendency to fade and require some assistance. I expect this to lead to increasing demand for hearing products over the next couple of decades. And thanks to Cochlear's position as an industry leader, its wide distribution network, and its high level of investment in R&D, I expect it to benefit greatly from the trend.
Nanosonics Ltd (ASX: NAN)
This infection control specialist could be a great option for that $10,000. This is because of Nanosonics' industry-leading trophon EPR disinfection system for ultrasound probes. I believe this product will underpin strong earnings growth over the next decade due to its massive global market opportunity. Nanosonics looks well-positioned to capture a big slice of it thanks to its quality and favourable guideline changes. Another positive is the impending launch of several secretive new products which look set to give its growth a further boost from FY 2021 onwards.
REA Group Limited (ASX: REA)
Another option for that $10,000 investment could be property listings giant REA Group. With the housing market rebounding, I believe the company's key local operations could soon experience a sharp rise in listings volumes. Combined with price increases and new revenue streams, I'm confident the company is positioned to deliver strong earnings growth over the next decade and beyond.
