Rather than leave $10,000 in a supposed high interest savings account, I would put it to work in the share market.
After all, with rates at record lows and probably still going lower, the potential returns on offer in the share market absolutely smash those of savings accounts.
Here are four growth shares that I would invest a spare $10,000 in:
Despite rallying 14% year-to-date, I still believe the a2 Milk Company Ltd (Australia) (ASX: A2M) share price is in the buy zone. This explosive dairy company recently reported a massive 290% increase in half-year net profit after tax to NZ$39.4 million. I expect another strong performance in the second-half thanks to the growing popularity of its products in Asia.
The Class Ltd (ASX: CL1) share price has fallen around 21% in the last six months, which I feel could make it an opportune time to snap up its shares for a long-term buy and hold investment. I have been very impressed with the way the self-managed super funds software provider has continued to grow its market share. At the end of last year its market share had risen to 21.7%. Furthermore the company boasted a retention rate of 99%.
The Nextdc Ltd (ASX: NXT) share price has surged higher by a whopping 22% since the start of February. The catalyst for this was the release of an impressive first-half result from the data centre operator. Thanks to increasing demand for cloud services, contracted utilisation rose 32% to 30 MW in the first-half. This ultimately led to the company posting a massive 110% increase in EBITDA to $23.9 million. I expect more of the same in the second-half.
The Webjet Limited (ASX: WEB) share price has been one of the best performing non-mining shares on the market in the last 12 months, rising a staggering 88%. But despite this huge gain I still believe the online travel agent is a buy. Webjet's numerous brands once again posted industry-beating bookings growth in the first-half of FY 2017, leading to an 86.9% increase in half-year net profit after tax. It is for this reason that I consider Webjet to be the ultimate growth share on the ASX.
