Although $3,000 might not seem like a life-changing amount of money to invest with, if you do this consistently over a long period of time it has the potential to grow into something significant.
Over the last 30 years the Australian share market has provided an average annual return of 9.1% according to Fidelity.
If it were to do this again over the next 30 years and you invested $3,000 into the share market each year, that investment would grow to be worth approximately $455,000 at the end of the period.
With that in mind, here are three shares which I would consider investing that first $3,000 into:
Altium Limited (ASX: ALU)
This software-as-a-service company was one of the highlights during earnings season, reporting half-year revenue growth of 30% to US$63.2 million and first-half EBITDA growth of 51% to US$19 million. This puts the printed circuit board design software provider well on track to achieve its revenue target of US$200 million by FY 2020. I continue to believe that its exposure to the rapidly growing Internet of Things market could lead to it smashing this target.
BWX Ltd (ASX: BWX)
This personal care products company's shares have fallen hard since the release of its half-year results last month. I think this has brought its shares down to a very attractive level and would suggest investors consider it for a long-term buy and hold investment. After all, with the increasingly popular Sukin brand continuing its international expansion, I believe the company has a long runway for growth ahead of it.
ResMed Inc. (CHESS) (ASX: RMD)
ResMed is a global healthcare company that specialises in the treatment of sleep apnoea and other chronic respiratory diseases. Thanks to its market-leading position, high-quality products, and growing demand, I believe it is capable of delivering above-average earnings growth for the foreseeable future. In the first-half of FY 2018 ResMed achieved non-GAAP income of US$143.8 million, up 39% on the prior corresponding period.
