If you are lucky enough to have $10,000 sitting in your savings account, I would suggest you consider putting it to work in the share market.
After all, the potential returns on offer are vastly superior to the interest rates most bank accounts offer right now.
But where should you invest these funds? My money would be on one of these high quality shares:
a2 Milk Company Ltd (ASX: A2M)
I think this infant formula and fresh milk company could be a great option for a $10,000 investment. I believe it has the ability to continue its strong growth for a long time to come thanks to increasing demand for its infant formula products in China and the expansion of its fresh milk footprint in the United States. Other positives include its extremely strong balance sheet, high levels of return on equity, and strong brand in China. The latter should help the company when competition in the a2-only market increases.
Afterpay Ltd (ASX: APT)
I think Afterpay would be worth considering with a long term view if you have a high tolerance for risk. Due to the increasing popularity of its buy now pay later platform with consumers and merchants, I believe Afterpay has the potential to become a global payments giant. Especially given how more and more younger consumers are turning away from credit cards and looking for more suitable alternatives.
Bravura Solutions Ltd (ASX: BVS)
I think this provider of software products and services to the wealth management and funds administration industries would be a good option for a $10,000 investment. This is because I’m confident that Bravura has the potential to grow materially over the next decade due to the sizeable market opportunity of its hugely popular Sonata wealth management platform. Another positive is the recent acquisitions the company has made. These acquisitions have opened the door to new and lucrative markets which could underpin its earnings growth for many years to come.
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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 AFTERPAY T FPO and Bravura Solutions Ltd. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended Bravura Solutions Ltd. 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.