With many economists predicting that interest rates will remain at rock bottom levels for some time to come, I think investors should skip savings accounts and put their money to work in the share market.
If I had $10,000 in a bank account and no immediate use for it, I would consider investing it into one of these three ASX shares:
CSL Limited (ASX: CSL)
Investors interested in gaining exposure to the healthcare sector might want to consider CSL. Over the last decade this biotherapeutics company's shares have provided shareholders with a stunning average annual total return of 24.9%. While the level of return may not be quite as strong over the next decade, I believe its robust core business, pipeline of products under development, and growing Seqirus influenza business could allow it to generate market-beating returns.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
Although this pizza chain operator's shares have been in sizzling form in 2020, I still think that in the long-term they could provide above-average returns for investors. After all, the company plans to more than double its store footprint to 5,500 stores by 2033. Thanks to this expansion, its focus on technology and efficiencies, and its long track record of same store sales growth, I believe Domino's is well-placed for solid earnings growth over the next decade.
NEXTDC Ltd (ASX: NXT)
Due to the unstoppable rise of cloud computing and the ever-increasing consumption of data, I believe demand for data centre capacity will grow at a rapid rate over the long term. As a market-leader with some of the highest quality centres in the world, I think NEXTDC will be a big winner from the trend. And while its shares look expensive on paper, I believe its positive long term growth outlook more than justifies the premium.
