If you can afford to invest $1,000 into the share market on a quarterly basis, then I think it would be well worth doing. Especially if you have a long investment time horizon.
This is because over the last 30 years, the Australian share market has generated an average total return of 9.2% per annum.
If the local share market were to do that over the next 30 years and you invested $1,000 every three months (and earned the same return), your investments would be worth a cool $626,000 at the end of the period.
And if you can beat the market over that time, your investments could be worth even more.
But which shares could be long term market beaters? Below are two ASX shares which I think could beat the market and may be top options for a $1,000 investment today:
Altium Limited (ASX: ALU)
I think this award-winning printed circuit board (PCB) design software provider could be a great ASX share to buy. Altium has been growing at a rapid rate over the last few years. This has been driven by the proliferation of electronic devices globally, which has led to increasing demand for its software. The good news is that with the Internet of Things and artificial intelligence markets still growing strongly and underpinning further electronic device growth, I think the future looks very bright for Altium.
IDP Education Ltd (ASX: IEL)
Another option to consider investing $1,000 into is IDP Education. It is a leading provider of international student placement services and English language testing services. I was very impressed with the way the company overcame the negative impacts of the pandemic to deliver strong profit growth in FY 2020. Looking ahead, I believe its market position is strengthening and expect it to come out of the crisis with a greater market share. Combined with its sizeable opportunity and growing software business, I believe its long term growth outlook is very positive.
