If you have $5,000 sitting in a savings account and no future plans for it, it could be worth putting the money to work in the share market.
After all, with interest rates tipped to fall next year, the interest you earn in a savings account will likely be only modest from 2025 onwards.
Whereas Australian shares have shown that they could turn these funds into so much more if you invest wisely.
But which ASX shares would be good options for a $5,000 investment today? Let's take a look at a couple that analysts rate highly. They are as follows:
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Goodman Group (ASX: GMG)
The first Australian share for investors to consider for a $5,000 investment right now is Goodman Group.
It is a specialist global industrial property and digital infrastructure group. It owns, develops, and manages high quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy.
A $5,000 investment in its shares 10 years ago would have been very successful. During this time, its shares have averaged a total return of 21.3% per annum. This would have turned $5,000 into almost $35,000 over the period.
The good news is that Morgan Stanley believes the company's fine form can continue. Particularly given its exposure to artificial intelligence through its data centre pipeline.
It has an overweight rating and $42.40 price target on the company's shares. Based on the current Goodman share price of $36.26, this implies potential upside of 17% for investors between now and this time next year.
NextDC Ltd (ASX: NXT)
Another Australian share that could be a top option for a $5,000 investment is NextDC. It is one of the region's most innovative data centre-as-a-service providers.
Like Goodman, its shares have delivered market-beating returns over the past decade. During this time, they have generated a total return of 24.5% per annum. This would have turned $5,000 10 years ago into almost $45,000 today.
Fortunately, the team at Morgans believes that the company is well-placed for growth in the coming years. This is thanks to the cloud computing and artificial intelligence booms. It believes that "significant demand for cloud computing and AI-related digital infrastructure is going to unpin attractive returns and long-term growth."
The broker currently has an add rating and $20.50 price target on NextDC's shares. This implies potential upside of 26% for investors over the next 12 months.
