I think buy and hold investing is a great way to grow your wealth. You only need to look at how $20,000 investments in these ASX shares have fared over the last 10 years to see how rewarding it can be.
With that in mind, if you have $20,000 to invest in the share market today, I would be investing it into these ASX shares:
a2 Milk Company Ltd (ASX: A2M)
I think this New Zealand-based fresh milk and infant formula company could be a great option for a $20,000 investment. It has been growing its earnings at a rapid rate over the last few years and I‘m confident this strong form can continue. This is thanks largely to the increasing demand for its infant formula products in the massive China market.
Afterpay Ltd (ASX: APT)
Another option to consider investing the money into is this payments company. Due to the success of its global expansion and the growing popularity of buy now pay later with consumers and merchants, I think Afterpay can continue its meteoric sales growth over the coming years and deliver strong returns for investors.
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for the machine learning and artificial intelligence markets. These markets are expected to grow exponentially over the next decade, which should lead to increasing demand for its services. Combined with recent acquisitions, I expect this to result in strong earnings growth from Appen for many years to come.
CSL Limited (ASX: CSL)
A final option for the funds could be this biotherapeutics giant. I think both its CSL Behring and Seqirus businesses are well-positioned for solid long term growth thanks to their popular products and burgeoning R&D pipelines. Another positive is the increasing demand for immunoglobulins and its growing plasma collection network. This should support strong earnings growth in the short term.
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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 CSL Ltd. The Motley Fool Australia owns shares of A2 Milk and Appen 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.