$2,500 invested in these 3 ASX shares could make you a fortune in 10 years

$2,500 invested in Appen Ltd (ASX:APX) and these ASX shares could make you a small fortune in 10 years…

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According to research by Fidelity, as of the end of 2019, the S&P/ASX 200 Index (ASX: XJO) had generated an average total return of 9.2% per annum over the last three decades.

While the current decade has got off to a bad start, I expect the share market to rebound and generate a similarly strong return over the next 10 years.

But you don't have to settle for the market return. I believe there are a large number of quality shares on the local share market with the potential to outperform the market.

As a result, if you are able to make regular investments into their shares over the period, you could end up with a small fortune.

For example, a $2,500 annual investment for 10 years into a share earning a total return of 11.7% per annum (2.5% greater than the market average) would grow into just under $50,000.

Of course, the more you invest, the greater the potential return. If you can afford to invest $3,000 each year, your investments would be nearing $60,000 after 10 years. If you can put $10,000 in, you're looking at almost $200,000.

But which shares could beat the market over the next 10 years? Three that I think have the potential to be market beaters are listed below:

Appen Ltd (ASX: APX)

The first option to consider is Appen. As a leading developer of high-quality, human annotated datasets, its looks exceptionally well-positioned to benefit from the machine learning and artificial intelligence (AI) boom. Especially given its leadership position in the industry and its relationships with some of the world's biggest tech companies. I expect demand to grow over the next decade and underpin strong earnings growth.

Kogan.com Ltd (ASX: KGN)

Another option to consider is Kogan. It is a growing ecommerce company which looks well-positioned for long term growth thanks to the shift to online shopping. At present approximately 10% of all retail spending is made online. I expect this to increase over the next decade and for Kogan to continue growing its market share and ultimately its earnings.

ResMed Inc. (ASX: RMD)

Finally, I think this sleep treatment-focused medical device company's shares could be market-beaters over the next decade. This is due to its industry-leading products and massive market opportunity. Management estimates that there are 1 billion people impacted by sleep apnoea worldwide. But with only ~20% of these sufferers being diagnosed, it should have a long runway for growth. 

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended ResMed Inc. 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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