With interest rates at record lows and unlikely to be lifting any time soon, if I had $10,000 in a savings account, I would consider putting it to work in the share market instead.
After all, the potential returns on offer from the share market are many times greater than the return you'll get from a bank account.
But where should you invest $10,000 right now? Here are four ASX shares I would buy with these funds:
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Aristocrat Leisure Limited (ASX: ALL)
The first ASX share to consider investing $10,000 into is Aristocrat Leisure. Although this gaming technology company's poker machine business has been hit hard by the pandemic, the majority of casinos globally are now open again. I expect this to lead to a rebound in demand for its industry-leading machines in the near future. This could mean that both its core business and its fast-growing Digital business will soon be pulling together.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a fast-growing donor management platform provider for the faith and not-for-profit sectors. I think it would be an excellent place to invest $10,000. Pushpay has been growing at an impressive rate over the last few years and shows no signs of stopping any time soon. It recently provided guidance for more strong growth in FY 2021. Looking even further ahead, the company is targeting a 50% share of the medium to large church market. This is a US$1 billion opportunity, which is many times greater than its current revenue.
REA Group Limited (ASX: REA)
Another option to consider is REA Group. It is the owner and operator of the dominant realestate.com.au website and several international equivalents. I've been very impressed with the resilience of its business and the way it has successfully delivered earnings growth even in the toughest of trading conditions. I'm optimistic that conditions will improve greatly once the pandemic passes, and its growth will accelerate.
ResMed Inc. (ASX: RMD)
A final ASX share to consider investing $10,000 into is ResMed. It is a medical device company which is focused on the sleep treatment market. Thanks to its world class products, growing addressable market, and exciting software business, I believe it is well-placed to deliver strong earnings growth over the long term.
