If you have $10,000 sitting in a savings account and no immediate plans for it, I would suggest you consider investing it into the share market where the potential returns are vastly superior.
But where should you invest these funds? I think the three ASX shares listed below would be great options:
BetaShares NASDAQ 100 ETF (ASX: NDQ)
I think investing $10,000 into the BetaShares NASDAQ 100 ETF would be a great idea. This is my favourite exchange traded fund on the ASX and for good reason. It gives investors access to the 100 largest non-financial shares on the NASDAQ index. This means you’ll be buying a piece of the likes of Amazon, Apple, Facebook, Microsoft, Netflix, and Google parent, Alphabet. Given the very positive long term outlooks of these companies, I believe the Nasdaq 100 index is likely to outperform most markets over the next decade. This could make it a great buy and hold option.
REA Group Limited (ASX: REA)
I think REA Group would also be a great place to invest $10,000 with a long term view. It is a leading property listings company with websites in Australia, Europe, Asia, and the United States. I’ve been very impressed at the way the company has performed over the last couple of years despite the tough trading conditions it has faced. So when trading conditions finally improve, I’m confident that its earnings growth will accelerate. This could drive the REA Group share price notably higher over the 2020s.
ResMed Inc. (ASX: RMD)
A final option to consider investing $10,000 into is ResMed. I think this sleep treatment-focused medical device company is one of the best buy and hold options on the local share market. This is because I believe it is well-placed for growth over the 2020s thanks to its industry-leading masks and software and its sizeable market opportunity. The company has previously suggested that there could be upwards of 1 billion people impacted by sleep apnoea worldwide. As the vast majority of these are undiagnosed, it gives ResMed a very long runway for growth. So after smashing the market in the 2010s, I would not bet against the ResMed share price repeating its heroics in the current decade.
Where to invest $1,000 right now
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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 BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS, REA Group Limited, and ResMed Inc. 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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