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3 top ASX shares to buy now to get rich later

As I’ve mentioned here previously, day trading can generate strong returns, but statistically it creates far more losers than winners.

As a result, if you’re interested in building your wealth, I would suggest you skip trading and focus on buying and holding ASX shares over the long term.

With that in mind, I have picked out three ASX shares that I believe could provide strong returns for investors over the next decade and beyond:

a2 Milk Company Ltd (ASX: A2M)

The first ASX share that I would buy is a2 Milk Company. I believe it could be a fantastic long term investment option due to the long runway for growth it has thanks to its expanding fresh milk footprint and the growing demand for its infant formula. The latter is experiencing particularly strong demand in the China market. And while its sales in the country have grown very strongly in recent years, it still only has a reasonably small market share. I expect it to capture a greater slice of the key market in the future and for this to drive strong earnings growth.

Kogan.com Ltd (ASX: KGN)

Another ASX share to consider buying is Kogan. It is a growing ecommerce company which has been benefiting greatly from the structural change that is happening in the retail industry. This change has been accelerated by the pandemic and looks set to underpin strong earnings growth for Kogan for many years to come. In addition to this, this morning the company announced a $115 million capital raising. It intends to use the funds to acquire businesses that will add value and drive further growth.

Pushpay Holdings Group Ltd (ASX: PPH)

A final ASX share to look at buying is this donor management platform provider. Over the last few years Pushpay has carved out a leadership position in the church sector. This has led to increasing demand for its offering and driven exceptionally strong sales growth. The good news is that it has a sizeable market opportunity to grow into. And combined with a recent acquisition and the benefits of scale, I believe its earnings will grow at a rapid rate 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 PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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.

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