If you are lucky enough to have $20,000 sitting in your savings account and no immediate use for it, I would suggest you consider putting it to work in the share market.
Especially after the recent market meltdown which has left a number of high quality shares trading at attractive prices.
But where should you invest these funds? I think these top shares would be great options:
Kogan.com Ltd (ASX: KGN)
Kogan is a growing ecommerce company and the Australian equivalent of Amazon. I think it is a great long term option for investors due to the continued shift to online shopping in the country. As more and more spending goes online, I believe Kogan is well-positioned to profit. In the short term, I expect the company to benefit from the closure of retail stores across the country because of the coronavirus pandemic. This should position Kogan for a very strong second half of FY 2020.
Pro Medicus Limited (ASX: PME)
Another share to consider investing $20,000 into is Pro Medicus. It is a leading provider of a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups globally. The company has been growing its earnings at a rapid rate over the last few years thanks to increasing demand for its high quality software and the benefits of scale. For example, in the first half of FY 2020, Pro Medicus reported a 32.7% increase in net profit after tax to $12.1 million. While the pandemic might stifle its growth in the second half, I remain confident that its long-term growth potential is enormous.
SEEK Limited (ASX: SEK)
A final share to consider buying with these funds is this job listings giant. While SEEK is best known for its eponymous website in the ANZ market, it also has a number of international equivalents. The one that I'm most bullish on is its Chinese job listings business. I believe combined with the ANZ business, it leaves SEEK well-positioned to grow its earnings at a strong rate over the next decade. And while the pandemic is likely to weigh on its short term performance, I feel it is worth being patient and focusing on the long-term.
