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Where to invest $10,000 into ASX shares immediately

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Given the increasingly bleak outlook for interest rates in Australia and globally over the coming few years, if I had $10,000 sitting in a savings account, I would be looking to put it to work in the share market.

But where should you invest $10,000? Three top ASX shares that I would buy with these funds are listed below. Here’s why I like them:

Kogan.com Ltd (ASX: KGN)

The first option to consider investing $10,000 into is this ecommerce company. Although its shares have been on fire this year, I don’t believe it is too late to invest. At 38x estimated FY 2021 earnings, I feel Kogan shares are still good value given its exceptionally positive long term outlook. This is thanks to the popularity of its offering and the ongoing shift to online shopping. In respect to the latter, the pandemic appears to have accelerated this structural shift and Kogan stands to benefit greatly from it.

Pushpay Holdings Group Ltd (ASX: PPH)

Another option to consider investing $10,000 into is Pushpay. It provides a donor management and community engagement platform to the church market. Pushpay has worked hard over the last few years to carve out a leadership position in the market and is reaping the rewards today. In FY 2020 the company grew its operating earnings at a rapid rate and more of the same is expected in FY 2021. Pleasingly, despite this, the company is still only scratching at the surface of its sizeable market opportunity. In light of this, I believe there is a lot more to come from Pushpay over the next decade.

SEEK Limited (ASX: SEK)

A final share to consider investing $10,000 into is SEEK. Although trading conditions are tough for the job listings giant right now because of the pandemic, I think it is worth sticking with it. This is because of its dominant position in the ANZ market and its growing Chinese operations. I believe the latter has the potential to underpin strong earnings growth and help SEEK achieve its aspirational revenue target of $5 billion later this decade. This will be a big increase on FY 2020’s revenue of $1,577.4 million.

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 owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Kogan.com ltd, PUSHPAY FPO NZX, and SEEK Limited. 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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